The GBP/USD
continues retracing to the downside, after breaking below the 200 day EMA,
around the 1.4658 level. This same zone may act as resistance if the price goes
back up. Above the 200 day EMA, the 1.4800 level may also act as resistance.
But the price is trying to go and visit the 1.4400 level, which could act as
support and the current retracement may end there. However, the MACD indicator
on the daily chart is showing us a change in trend; therefore, the price may
break the 1.4400 level and continue towards the 1.4200, which could act as
support.
Very helpful analysis, I will keep it in mind.
ReplyDeleteI too think the pair is falling towards 1.4400.
ReplyDeleteLooks like it will keep pushing lower.
ReplyDeleteIt seems a good short!
ReplyDeleteIt was interesting to read! Thanks a lot!
ReplyDeleteGreat post! Thank you!
ReplyDeleteGreat analysis!
ReplyDelete