Although the GBP dropped a little more since my last assessment, my prognosis for a move to the upside for GBP/USD turned out to be correct.
The pair moved a little further down, but could not reach 1.21 after which the GBP started rising, and at the moment it’s around 1.2360.
My expectation is that the move to the upside will continue, and the first serious resistance level will be around 1.2440 – 1.2450. In case the pair breaks out above that level we could see it rise toward 1.2600 and even higher.
If the GBP cannot break out above the resistance trend line (in blue), I think it will drop toward 1.22.
Good posts, very helpful for all traders.
ReplyDeleteVery helpful analysis.
ReplyDeleteIt found some resistance at 1.2400.
ReplyDeleteAccurate as usual!
ReplyDeleteVery helpful analysis, thank you for sharing!
ReplyDeleteGood insight.
ReplyDeleteI'm waiting for another leg up.
ReplyDeleteCongratulations for your accurate predictions.
ReplyDelete