Monday, June 12, 2017
Good drop on the GBP/USD
The
Pound has been very sensitive to what may happen with the Brexit negotiations
after the recent general elections in the United Kingdom, where none of the
main political parties has managed to secure a majority in Parliament. That is
why we have seen a lot of volatility on the GBP/USD and today we saw a very
good drop that took the pair to Friday’s low around the 1.2635 zone as shown on
the daily chart. If the GBP/USD bounces from this zone to the upside, then a
double bottom formation may develop. But if the pair continues falling, then
the closest support zone could be the 1.2600 level, even though the 1.2500 or
the 1.2400 levels could also act as supports in case that the bearish trend
remains in the short term. If the GBP/USD breaks above the 1.2700 level, then
the price may consolidate around that level and the 1.2800 level. In order for
the pair to go back to its bullish trend, the price must break above the 1.3000
level.
Subscribe to:
Post Comments (Atom)
WTI oil at the 200 day EMA
WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...
-
Great events, great Webinars during this month of November by ActivTrades. Paul Wallace will be conducting an interesting event on Thursday... -
The Dow Jones industrial index reaches for the first time in its lifetime the 20000 points, prolonging what it has come to be known as “the ... -
The EUR/USD has made a very good bearish retracement from the 200 day EMA around the 1.0770 level, which has taken it below the 1.0700 leve...
Very helpful analysis.
ReplyDeleteIt bounced off 1.2635 again.
ReplyDeleteIt's yet undecided.
ReplyDeleteThe drop is over for the moment.
ReplyDeleteThere is still space for further decline!
ReplyDeleteInteresting to see how this develops.
ReplyDeleteA small gap down.
ReplyDelete