Gbp/Usd daily charts |
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I rather post bigger charts today, as I don’t expect too much action in the next and last, trading hours of the day. Take a look at the daily chart of Gbp/Usd: this week high has reached and failed to break above the 61.8% and today’s candle opened just under the 20 SMA, that lost the bullish slope and turned flat. We must also consider the fact that the pair has been trading between 1.62/1.66 from early June, and talking of dailies, we need to wait for the close, yet, if the day ends under 1.6350, then the 1.6200 will be our first mid term support, followed by 1.6060, 50 % retracement f the rally. under that level, we have a number of minimums along with 200 EMA around 1.5750, so there is a likely target to the downside for next week. On the other hand, if pair manages to regain the upside and close the day above 1.6430 or so, breaking back 20 SMA to the upside, longer term resistances will be at 1.6600 and 1.6740 zone. Above that 61.8%, likely target will be around 1.7100 in the mid term.
Filed under: Forex Advisor
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