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

GBPUSD consolidates between 1.5080 and 1.5240

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 8, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD formed a sideways consolidation in a narrow range between 1.5080 and 1.5240 for several days. Lengthier sideways movement is still possible later today. Near term support is at the lower boundary of the price channel on 4-hour chart (now at 1.5027), As long as the channel support holds, the sideways movement is treated as consolidation of uptrend, another rise to 1.5400 is still possible. Key support is at 1.4873, only fall below these levels could indicate that the upward movement from 1.4346 is complete.


    Daily Forex Forecast

Share This Page