Wednesday, May 26, 2021 6:45 AM EDT
The GBP/USD has moved down but it is still ranging. We might even see a bounce as the pattern could fail.
We still don’t know if the pattern could fail. A clear break below the SHS pattern neckline should happen if we want to see the continuation to the downside. A bounce off the support is possible too. The POC zone will determine the fate of the move for today. 1.4130-40 is the POC zone and we should see if it holds. The target for the bounce is 1.4170 and 1.4200. The target for a drop below the neckline is 1.4089.
(Click on image to enlarge)
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...
more
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The opinions in this article are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit transactions or clients. Past performance of the companies discussed may not continue and the companies may not achieve the earnings growth as predicted. The information in this document is believed to be accurate, but under no circumstances should a person act upon the information contained within. We do not recommend that anyone act upon any investment information without first consulting an investment advisor as to the suitability of such investments for his specific situation.
less
How did you like this article? Let us know so we can better customize your reading experience.