Tuesday, July 17, 2018
Will the GBP/USD stay at support?
The
GBP/USD has found a very good support level at the 1.3100 zone from where it
has bounced seven times already to the upside, as shown on the daily chart. The
pair may find once again a support at the 1.3100 visit, but the more times the
price visits the level, the higher the probability of it breaking it. In case
of a bearish breakdown, the 1.3000 level may act as a temporary support, but a breakdown
of that level would accelerate the bearish momentum and cause the price to fall
more rapidly. Another possible scenario is that the price may stay consolidated
between the 1.3100 level and the 1.3400 level without taking a clear direction.
Above the 55 day EMA, in case of a bullish correction, the 200 day EMA at the
1.3500 level may act as a very good resistance.
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...
Good assessment! I'll keep it in mind.
ReplyDeleteIt might want to retest the year-to-date-low at 1.3049.
ReplyDeleteIt's pushing lower.
ReplyDeleteThank you for the analysis.
ReplyDeleteI think it will keep depreciating.
ReplyDeleteGood to know!
ReplyDeleteUpside may not be over yet.
ReplyDelete