Thus far, price has slightly recovered, but a long way is yet to be covered. First resistance zone might be expected aroung the 1.50 level.
Chart: GBP/USD D1
Wednesday, December 23, 2015
GBP/USD Support
Has the long ride of the bears come to an end? It look so according to the daily chart. Price was caught in a downtrend from 1.5250 to 1.4790. Yesterday, however, bulls decided to take the wheel and GBP/USD was only able to touch the support line after which the pair started gaining.
Thus far, price has slightly recovered, but a long way is yet to be covered. First resistance zone might be expected aroung the 1.50 level.
Chart: GBP/USD D1
Thus far, price has slightly recovered, but a long way is yet to be covered. First resistance zone might be expected aroung the 1.50 level.
Chart: GBP/USD D1
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Great anlaysis!
ReplyDeleteThe pair is still testing 1.4930 but it will probably reach 1.5000 as you said.
ReplyDeleteGreat analysis.
ReplyDeleteGreat assessment, thank you.
ReplyDeleteGood analysis.
ReplyDelete