Tuesday 24 March 2015

GBP/USD Will Likely Continue On Its Way Down




GBP/USD has been consolidating for the past several days after it reached the support at 1.4680. The pair climbled and reached the resistance level at 1.4970, which coincides with the MA89 on the four hour filter chart and it has been testing that resistance for a while now. Personally, I do not think it will be able to break above it, as the pair has formed a hammer candlestick pattern on the daily chart right under the resistance level. I expect that the bearish trend will continue and the pair will head for target 1.4680 again.
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5 comments:

  1. Unknown24 March 2015 at 16:32

    trying to break the middle bollinger band.

    ReplyDelete
  2. bewayopa24 March 2015 at 16:39

    Excellent analysis

    ReplyDelete
  3. Anonymous25 March 2015 at 03:08

    Good point. I'll keep a close eye on GBPUSD.

    ReplyDelete
  4. Unknown25 March 2015 at 06:42

    Gbp/usd rose to a fresh high.

    ReplyDelete
  5. Unknown29 March 2015 at 11:35

    Where is this going to lead? Who knows...

    ReplyDelete

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