Attached is the 1H chart for GBPUSD. GBPUSD has been looking weak for the past few days along with EU and has visited its lows at around 1.5075 twice over the last few days. It now has major support at 1.5137 and then just below at 1.5075.
I believe that it will take some time for GU to break these 2 supports and we could see a retracement back into 1.52 and the price action there would tell us whether the pair would continue up or would start moving down once again.
On the downside, as pointed out, there would be strong supports at 1.5137 and then at 1.5075. A break of these supports would lead to a drop to the round number at 1.50.
On the upside, the targets are 1.5175 and then 1.5250. I expect a retracement back to 1.52 for today and then a break of 1.5250 will signal a further upmove and a coninuation of the uptrend... A break of 1.5075 will signal a down move.
No comments:
Post a Comment