Price retreated to even lower than before reaching 1.4785 in today's session. While this might be a good buying opportunity, you may want to wait for the pair to first bounce off the support level, as shown in the chart below.
Chart: GBP/USD D1
Tuesday, December 29, 2015
GBP/USD Close To Support
The Sterling Bulls are having a disastrous time. A couple of months ago price was targeted to reach 1.55 before the end of the year from a lot of experts and analysts. The saying of Jesse Livermore "the market is designed to fool most of the people most of the time" holds true in this case specifically.
Price retreated to even lower than before reaching 1.4785 in today's session. While this might be a good buying opportunity, you may want to wait for the pair to first bounce off the support level, as shown in the chart below.
Chart: GBP/USD D1
Price retreated to even lower than before reaching 1.4785 in today's session. While this might be a good buying opportunity, you may want to wait for the pair to first bounce off the support level, as shown in the chart below.
Chart: GBP/USD D1
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Interesting analysis, thank you.
ReplyDeleteThank you for the analysis, I will keep it in mind.
ReplyDeleteGood analysis.
ReplyDelete