British Pound testing downtrend line resistance

British Pound testing downtrend line resistance

Rami
29 (09) 2016 - 10:04 (GMT)
0

As we see over the chart, GBPUSD managed to head for rebound correction from (1.2920-30) while market managed today to test resistance levels of the downtrend line around (1.3060) zone.

Intraday-Levels showing support at (1.2980) where as long as market holding above another chance to advance to re-test downtrend line will be available.

Above (1.3060) market will have chance for farther advance where second resistance laying at (1.3140-50).

Below (1.2980) market may enter new downtrend wave where below (1.2915) expect farther drop toward (1.2800-50) zone.

 

GBPUSD

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Rami

Rami

Hi all, my name is Rami, with more than 16 years experience in Forex Market, switching from Brokerage field to Fund Management and Risk Management specialty.I had an idea to establish a Home Page to present my thoughts on Forex Market from three different angle or prospective, Mid-Run, Short-Run & Intraday movements .

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