Yesterday I
was convinced that GBP/USD has broken below the support at 1.5360 and will
continue on its way down to 1.5250, but the pair unfortunately returned to its
previous levels above the aforementioned support. These things happen
occasionally and I’ll be the first to admit how annoying it is when they do.
Not to mention that the pair seems to have formed a double bottom on the one
hour filter chart. That said, I think that even if GBP/USD moves to the upside
that move will be temporary and it will test the support at 1.5360 sooner or
later.
The downtrend is still in place.
ReplyDeleteJust a pullback before another move upward.
ReplyDeleteGreat long entry point!
ReplyDelete