The GBPUSD is in a support base that has not been broken, the market waiting for the economic datas from USA. Weird attitude as the UK entrepreneurs are confident about their capacity to expand their business according to a recent analysis (investing.com) GBPUSD might fall more if US numbers are pretty good but 2017 will see it rise back to 1.34. The perfect...
1) A completed head and shoulders pattern @ key daily resistance @ 0.86002 2) A break of the trend line will warrant short entries 3) Downside target ~ Support zone @ 0.82971
Right, here we see this pair stuck in a range for the last two months or so, manufacturing data to be released on Monday morning for GBP. We will either see this pair break through the box and reach 1.34 or retrace down to 1.31 level. Either way, take your pick, trade after the news if you wish, however, trade safe.
The 16/03/2015 the Euro Dollar slowed its fall (opened in 1.04701), and never again be there until the 12.03.2015 where he approached with record lows of 1.05168. Not without having had a maximum of 1.17140 on 24/08/2015. So in my opinion, taking from the minimum point where the fall March to August peak stopped, so should be the Fibonacci retracement on daily...
The biggest channel is from Weekly chart. I'm waiting this retracement on Daily chart is being finished with this channel breakout. After breakout first support area will be 1.4057 and after this 1.3835 - 1.3840 will act as a good support area. Above the price 1.4460 will be our resistance but trend is down so I think we wont touch that point these days. Let...