Medium Term View:
Bearish leaning against the 1.3500/1.3600 resistance region. A break below 1.3020 opens up a move lower
towards the 1.2000 support.
Short Term View:
GBPUSD is edging into a band of resistance 1.3350/1.3450 that needs to stall GBPUSD’s advance for our bearish “abc” set-up to remain valid. Rejection from this region combined with a decline below 1.3250 would be the initial sign a top may be in place and the downtrend has returned.
Resistance: 1.3400, 1.3440/50, 1.3500
Support: 1.3270/50, 1.3220/10, 1.3175
Bearish leaning against the 1.3500/1.3600 resistance region. A break below 1.3020 opens up a move lower
towards the 1.2000 support.
Short Term View:
GBPUSD is edging into a band of resistance 1.3350/1.3450 that needs to stall GBPUSD’s advance for our bearish “abc” set-up to remain valid. Rejection from this region combined with a decline below 1.3250 would be the initial sign a top may be in place and the downtrend has returned.
Resistance: 1.3400, 1.3440/50, 1.3500
Support: 1.3270/50, 1.3220/10, 1.3175