First support level might be expected at 1.4560, while first resistance level might be expected at 1.4750. The resistance is strong as we have three failed attempts to go over this price.
Chart: GBP/USD D1
Tuesday, May 31, 2016
GBP/USD Consolidating
The pair is having a tough day today deciding where to go next. GBP/USD reached a high for the day of 1.4725 and a low for the day of 1.4568 and is currently trading right in the middle at 1.4637. The pair seems to be consolidating as bears and bulls cannot decide who wants to give more in order for them to take control over the trend.
First support level might be expected at 1.4560, while first resistance level might be expected at 1.4750. The resistance is strong as we have three failed attempts to go over this price.
Chart: GBP/USD D1
First support level might be expected at 1.4560, while first resistance level might be expected at 1.4750. The resistance is strong as we have three failed attempts to go over this price.
Chart: GBP/USD D1
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Good post. Very helpful.
ReplyDeleteThe pair broke below 1.45 level, Brexit fear resurface.
ReplyDeleteWaiting for the referendum.
ReplyDeleteThe chance of Brexit is scoring today at 19%.
ReplyDeleteConsidering the current Poll score, Britain will remain and the British Pound shall benefit.
The pair is still falling and I don't think it will stop anytime soon.
ReplyDeleteThank you for the assessment.
ReplyDeleteSterling suffers and today dropped to 1.44.
ReplyDelete