FX & CFD trading involves significant risk
11:59 Tech on GBP/USD
Resistance 3: $ 1.6233 (channel resistance line)
Resistance 2: $ 1.6180 (high of the session high)
Resistance 1: $ 1.6153 (MA (100) for H4)
Current price: $ 1.6115
Support 1: $ 1.6100 (psychological level, MA (200) for H4)
Support 2: $ 1.6070 (MA (100) for H1)
Support 3: $ 1.5915/25 (yesterday intraday low)
Comments: As the graph shows, yesterday the pair's currency will be fixed above the channel resistance lines, but today during correction couple went back to the line. Against this background, we note that after such a rollback, the growth will continue, and the currency will rush to the other line of resistance, which is the upper bound of the new channel (the projection of the old). Meanwhile, we note that if the rate still overcome the support line, near which he now ranges, the fall may continue to the lower boundary of the rising channel (marked in black).
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.