Thursday, March 22, 2018
The Pound loses its bullish momentum
Apparently,
the GBP/USD has lost its bullish momentum once it broke above the 1.4200 level
as shown on the daily chart. However, if the pair continues rising, then the
1.4300 level could act as resistance, due to the fact that the pair has already
peaked at that zone. Today’s daily candle has closed like a shooting star and
that is a bearish reversal pattern. Therefore, the GBP/USD may try to pull back
to the downside and probably reach the 1.4000 level. Below the 1.4000 level,
its next support zone could be the 1.3900 area along with the 55 day EMA. Much
lower, at the 1.3700 level we can also find a very good support zone, followed
by the 1.3600 level, which has acted as resistance in the past and could change
its function to support.
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ReplyDeleteI'll watch those levels.
ReplyDeleteJust breathing.
ReplyDeleteIt may continue rising next week.
ReplyDeleteTaking note on these levels.
ReplyDeleteInteresting analysis, thanks.
ReplyDeleteVery useful information! Thanks.
ReplyDeleteRisk remains on the upside.
ReplyDeleteGreat daily note as always, thank you!
ReplyDelete