GBP/USD broke below the bullish trend line on the 4-hour chart, indicating that the upside movement from 1.2774 had completed at 1.3652 already.
GBP/USD broke below the bullish trend line on the 4-hour chart, indicating that the upside movement from 1.2774 had completed at 1.3652 already. Further decline could be expected after a minor consolidation and next target would be at 1.3250 area. Resistance is now at 1.3470, only break above this level could bring price back to retest the resistance of the long term bearish trend line on the weekly chart.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
Comments
Log in or sign up to join the conversation.