1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

GBPUSD bounced from 1.4798

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 28, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    Being contained by 1.4784 previous low support, GBPUSD bounced from 1.4798. suggesting range trading between 1.4784 and 1.5001 is underway. However, the price action in the trading range is more likely consolidation of downtrend from 1.5382, another fall towards 1.4500 is possible after consolidation. On the other side, above 1.5001 resistance may suggest that a cycle bottom has been formed on 4-hour chart, then further rally could be seen to 1.5080 or even higher.


    Daily Forex Signals

Share This Page