First level of support is 1.4230 - the lowest for the past two days. First level of resistance is 1.4400. In this situation it is best to wait for price to break out of this range trading zone and then enter into a position.
Chart: GBP/USD D1
Friday, January 29, 2016
GBP/USD Still at Bottom
The Cable is having a hard time getting out of its lowest price zone and is trading in the range of 1.4200 and 1.4390. Currently, the price of 1.4250 is close to the lowest for the day as this is a signal that bears are not yet finished and want to keep the pair trading at the bottom.
First level of support is 1.4230 - the lowest for the past two days. First level of resistance is 1.4400. In this situation it is best to wait for price to break out of this range trading zone and then enter into a position.
Chart: GBP/USD D1
First level of support is 1.4230 - the lowest for the past two days. First level of resistance is 1.4400. In this situation it is best to wait for price to break out of this range trading zone and then enter into a position.
Chart: GBP/USD D1
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Excellent Analysis! Thanks.
ReplyDeleteGreat analysis, thank you.
ReplyDeleteGood point, I'll keep it in mind.
ReplyDeleteExcellent analysis.
ReplyDeleteThanks for the analysis.
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