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

GBPUSD stays in a trading range between 1.5535 and 1.5712

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 17, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    GBPUSD stays in a trading range between 1.5535 and 1.5712. Another rise towards 1.5712 key resistance would more likely be seen later today, a break above this level will confirm that a cycle bottom has been formed at 1.5535 level on 4-hour chart, then another rise towards 1.5997 previous high could be seen. On the downside, below 1.5535 could resume the downward move from 1.5997, then next target would be at 1.5400 area.

    [​IMG]

    Daily Forex Forecast
     
Loading...

Share This Page