search CFD Spy


Most Popular

got trading broker knowledge? Why not Submit a rating and review today!
Compare Online Trading brokers

1 Star2 Stars3 Stars4 Stars5 Stars
(Be first to rate!)

September 19th, 2017, 9:46 am | By forexcycle | Published in Daily Technical | Comments on this postComments Off

GBPUSD stays above a bullish support trend line on the 4-hour chart and remains in the uptrend from 1.2774, the fall from 1.3618 is likely consolidation of the uptrend. Deeper decline is still possible and next target would be at 1,3400, followed by 1.3370. As long as 1.3370 level holds, the bullish movement could be expected to resume and an upside break of 1.3618 resistance could signal resumption of the uptrend, then next target would be at 1.3950 area. Key support is located at the bullish trend line, only a clear break below the trend line support could bring price back towards 1.2774.

GBPUSD 4-hour chart

Be Sociable, Share!

About the author

forexcycle provides free forex analysis, forex signals and forex trading strategies.

You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.