The Pound
versus the Dollar consolidates between the 1.2300 level and the 1.2600 level,
forming what it appears to be a symmetrical triangle. From this area the price
may head in any direction, but we must keep in mind that in the longer term the
bearish trend is still in place. A breakdown below the 1.2300 level could take
the pair to the 1.2200 or the 1.2000 levels. To the upside, above the 1.2600
level, its next resistances could be the 1.2800 level or the 1.300 level.
The pair is consolidating around 1.2400 level. Lack of major news to set direction this week.
ReplyDeleteGood assessment!
ReplyDeleteStill consolidating.
ReplyDeleteVery useful information! Thanks.
ReplyDeleteThank you for the analysis.
ReplyDeleteI think range will continue until the FOMC meeting next month.
ReplyDeleteGood read, thanks.
ReplyDeleteGreat article as always.
ReplyDeleteThe pair continue ranging.
ReplyDelete