The pair is trading in a very tight range as each new day is a challenge for the other camp. Bears and Bulls are having a tough fight as they try to push price into their preferred direction. In the last five days price has been reacting to buying and selling just enough to keep in the zone of 1.4380 as an upper line and 1.4220 as a lower line.
Trend still remains heavily to the downside in the long term and it would take a lot of buying to make bears give up. Currently, price is 1.4358 with a high for the day of 1.4378 and a low of 1.4227.
First resistance is 1.44, first support is 1.42.
Chart: GBP/USD D1
Its really going sideways.
ReplyDeleteIt broke above 1.4350 and it will probably continue climbing for now.
ReplyDeleteInteresting analysis, Thank you.
ReplyDeleteGood analysis!
ReplyDeleteGood analysis!
ReplyDelete