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

GBPUSD rebounds from 1.6133

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 21, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    Being supported by 1.6113 previous low, GBPUSD rebounds from 1.6133, however, the rise is more likely consolidation of downtrend from 1.6741, further fall to test 1.6113 support is still possible later today, and a breakdown below this level will indicate that uptrend from 1.3503 (Jan 23 low) has completed at 1.7042 level already. Near term resistance is at 1.6350, as long as this level holds, we’d expect downtrend to continue.


    Daily Forex Signals

Share This Page