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

GBPUSD rebounded from 1.5197

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 24, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    Being contained by the support of upward trend line from 1.4831 to 1.5034, GBPUSD rebounded from 1.5197, suggesting that the downward movement from 1.5411 has completed. Further rise to test 1.5411 resistance would likely be seen, a break above this level will indicate that the uptrend from 1.4831 has resumed, then next target would be at 1.5600 area. Key support is now at 1.5197, only break below this level will suggest that the uptrend from 1.4831 had completed at 1.5411 already, then the following downward move could bring price to 1.4500 zone.


    Daily Forex Forecast

Share This Page