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

GBPUSD stays above a upward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 18, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.4831, the fall from 1.5411 is treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to resume, and another rise towards 1.5600 is still possible after consolidation. However, a clear break below the trend line will suggest that the uptrend from 1.4831 had completed at 1.5411 already, then the following downward movement could bring price to 1.4500 zone.


    Forex Signals

Share This Page