Gbp/Usd Mapping the Territory w/c 27
Context:
we left the downchannel but price compressed on a rather small range between resistance 57650 and
support at 57170 , usually if price gets compressed within a tight range , that the effect of a breakout eitherway
will occure on high momentum , so the key level here is actually the range and how that resolves itself,
a breakdown will probably lead us down to the next key level of the 50% mark at 55600, whereas a breakout to the upside , will test the major resistance level at 58800 again .
Signs of strength:
left the down channel
Signs Of weakness:
price found resistance
Support:
57170
56750
55600
Resistance:
57650
58114
58800
invezted.com
we left the downchannel but price compressed on a rather small range between resistance 57650 and
support at 57170 , usually if price gets compressed within a tight range , that the effect of a breakout eitherway
will occure on high momentum , so the key level here is actually the range and how that resolves itself,
a breakdown will probably lead us down to the next key level of the 50% mark at 55600, whereas a breakout to the upside , will test the major resistance level at 58800 again .
Signs of strength:
left the down channel
Signs Of weakness:
price found resistance
Support:
57170
56750
55600
Resistance:
57650
58114
58800
invezted.com
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