Monday, July 6, 2015

Breakout and pullback on the GBP/USD

The Pound versus the Dollar has been very volatile since last week. At the beginning of today’s trading session the price started oscillating around Friday’s low at the 1.5562. The price finally gained some bullish momentum and broke above the 1.5600 level. On the one hour chart of the GBP/USD we can see that the price has retraced to the 1.5600 level, which is currently acting as a support. If the price bounces from that level to the upside, then the breakout and pullback pattern will be completed and the pair may try to rally to the 1.5643 level, which is Friday’s high.



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7 comments:

  1. bewayopaJul 6, 2015, 5:26:00 PM

    Very clear movement thank you for sharing.

    ReplyDelete
  2. UnknownJul 7, 2015, 4:46:00 AM

    The 1.5600 could be at a good turning point.

    ReplyDelete
  3. UnknownJul 7, 2015, 11:53:00 AM

    Interesting movement of this pair!

    ReplyDelete
  4. UnknownJul 7, 2015, 3:19:00 PM

    Very useful analysis.

    ReplyDelete
  5. UnknownJul 8, 2015, 7:35:00 AM

    The pair is heading the 200 SMA.
    Lets see if this level can act as a support.

    ReplyDelete
  6. UnknownJul 8, 2015, 12:19:00 PM

    The pair broke below 1.5360 and is headed for 1.5250.

    ReplyDelete
  7. UnknownJul 12, 2015, 1:18:00 PM

    Great analysis. thank you for sharing.

    ReplyDelete

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