Wednesday 29 July 2015

GBP/USD Is Climbing Slowly





GBP/USD repeatedly tried to break below the support at 1.5470, failed to do that, formed a hanging man and a marubozu candlesticks above the support and finally started moving to the upside again. Currently the pair has almost reached the resistance at 1.5700. Should it manage to break above that level it will likely continue climbing towards the next resistance level, which is at 1.5750 and coincides with (89)MA on the weekly filter chart. I, personally, think it is quite possible for it to break above that resistance too so the bullish trend can continue.

3 comments: