Further advance did not follow, as the pair entered a minor period of consolidation. Despite technical indicators flashing bearish signals, it is likely that the breached resistance succeeds at supporting the price near 1.3860.
This level also coincides with the 55-hour SMA and the prevailing one-week trendline. By and large, it is expected that the Sterling pushes higher within the following trading sessions until a downward-sloping trendline is reached near 1.3950.
Chart: GBP/USD H4
Will keep these levels in mind.
ReplyDeleteIt seems undecided for the moment.
ReplyDeleteAs always, very detailed analysis.
ReplyDeleteIt may rise still further
ReplyDeleteThe 50-day MA seem to be a good inflection point.
ReplyDeleteThe move to the upside may be over.
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDeleteThank you for the useful info.
ReplyDelete