Attached is the 1H chart for GBPUSD. As in EU and as predicted in the articles in this blog, GU had a good move down and then it came right back up to finish the day where it began. The move up was based on good volume, which showed that the move was true and was backed up very well.
Now looking forward to today, there has been a good move up and a bit of ranging during the early part of the day. I would expect GU to move towards 1.600 where it should face a strong psychological resistance and then it should again face a strong resistance at 1.6050 from where i believe there should be a good retracement for atleast 200 pips.
On the upside, as specified above, we should see good resistance at 1.60 and then at around 1.6050 and i dont expect GU to go much above that today.
On the downside, GU should have good support at 1.5930 and then at 1.59. If this breaks, then we should go down to 1.5855.
Readers from FF, if you like this article, pls vote for it.
No comments:
Post a Comment