Monday, May 16, 2016

GBP/USD Uncertain

The pair is now hesitant where to go next. This becomes clear by looking at the 4-hour chart with the last candle trading in low volumes and low volatility.

Main trend remains bearish on the short-term with market participants pessimistic about the pair's future which may lead price to levels around major support zone at 1.4150-1.42.

On the other hand, a correction could be expected which may result in bulls taking control over the situation and pushing price to first support zone at 1.45.

Chart: GBP/USD H4


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6 comments:

  1. UnknownMay 16, 2016 at 8:30 PM

    Excellent analysis as always.

    ReplyDelete
  2. UnknownMay 17, 2016 at 12:00 PM

    Choppy trading ahead!!

    ReplyDelete
  3. UnknownMay 17, 2016 at 10:11 PM

    Brexit positive polls today sent the sterling 1% up and jumped to $1.4524.

    ReplyDelete
  4. UnknownMay 18, 2016 at 2:27 AM

    Pound is steady around 1.445 level.

    ReplyDelete
  5. UnknownMay 20, 2016 at 6:42 PM

    Great article as always.

    ReplyDelete
  6. UnknownMay 23, 2016 at 5:37 AM

    A good post with good insights into the situation.

    ReplyDelete

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