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

GBPUSD formed a short term cycle bottom

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 6, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD formed a short term cycle bottom at 1.6113 level on 4-hour chart. Further rise to test the resistance of the upper border of the falling price channel is expected later today. Key resistance remains at 1.6623, as long as this level holds, we’d expect downtrend to resume, and another fall towards 1.5900 is possible before breaking above 1.6623 level. However, above 1.6623 will suggest that the downtrend from 1.7042 has completed at 1.6113 level.


    Daily Forex Forecast

Share This Page