GBP/USD
kept rising until it finally reached the target at 1.5930, which is a pretty
strong resistance level visible on the monthly filter chart. Naturally, after
reaching a level of such significant resistance the pair bounced off of it,
formed a pair of doji candlesticks in the daily filter chart and moved to the
downside. Currently GBP/USD is testing the support at 1.5810. Should it be able
to break below that level I expect a further move to the downside until it reaches
the support at 1.5770 and it is possible it may fall even lower. Either way, I
think that once the correction ends the bullish trend will continue and the
pair will head for the resistance at 1.6100.
Thank you for the analysis i'll keep an eye on the currency.
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ReplyDeleteInformative article. Keep them coming!
ReplyDeleteCongratulations for this post, very interesting and useful
ReplyDelete