Strong resistance remains the 1.55 level. Considering market sentiment is strongly bullish we may see a break out of resistance but until we witness a close above 1.55, the pair is still in transition.
Chart: GBPUSD D1
Wednesday, November 4, 2015
GBPUSD Insecure
The Cable is trading insecurely for the past few days with prices above the resistance zone of 1.5390. In the coming days it would become clear whether the pair is going to hold above the resistance line. Note that yesterday the prior pivot point was reached and prices reverted back to the upside.
Strong resistance remains the 1.55 level. Considering market sentiment is strongly bullish we may see a break out of resistance but until we witness a close above 1.55, the pair is still in transition.
Chart: GBPUSD D1
Strong resistance remains the 1.55 level. Considering market sentiment is strongly bullish we may see a break out of resistance but until we witness a close above 1.55, the pair is still in transition.
Chart: GBPUSD D1
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It seems a good opportunity to go long.
ReplyDeleteGbp/Usd struggles stay positive.
ReplyDeleteIt started moving to the downside but it's yet to break below the support at 1.5370.
ReplyDeleteThanks for the analysis, will keep it in mind!
ReplyDeleteI agree with your analysis, thank you.
ReplyDeleteThanks for your analysis.
ReplyDeleteBig drop. The trend is still bearish.
ReplyDelete