GBPUSD might be forming a short term cycle bottom |
|
GBPUSD might be forming a short term cycle bottom at 1.8512 on 4-hour chart. Key resistance is located at 1.8787, a break of this level will confirm the cycle bottom, and then further rise could be seen to test 1.8900 resistance. However, the rebound from 1.8512 is treated as correction to down trend. As long as 1.8900 level holds, we’d expect down trend to resume, and deeper decline is still possible after correction.
Filed under: Technical
Latest Posts
- Forex Blog: US to Continue to Pressure China Over RMB
- Forex Blog: US to Continue to Pressure China Over RMB
- 10 Minute Forex Wealth Builder Review
- Forex reserves dip $5 bn as RBI sells dollars - Economic Times …
- TopForex.info » Forex Market Scams Posted By : a.anies
- TopForex.info » Forex Market Scams Posted By : a.anies
- Online Forex Trading » Blog Archive » No One Home at Treasury, Fed …
- Obama Names Next Treasury Secretary
- This Week's Market Outlook - Forex Trading, Currency Forecast, FX …
- Forex Trading Systems - The Top 5 Reasons to Invest in One
- The Trading Week: Nov. 24 - Nov. 28
- Weekly Foreign Exchange Insights - Forex Trading, Currency …
- Weekly Foreign Exchange Insights - Forex Trading, Currency …
- 11/23/2008 - Risk appetite dictating the pace in a very emotional market
- The week in few words