GBP/USD
continues developing within the trend channel from 1.19858 (January 2017) and until now the
pair has broken out above the resistance trend line just once reaching a local
high at 1.43452.
The
scenarios that could develop from now on are the following:
The pair
could test the trend line for a second time and in case it succeeds in breaking
out above it, it could continue its move north to the upper side of the
resistance zone (in blue) between 1.4650 and 1.4700.
In case the
test is unsuccessful the pair could renew its depreciation to the support trend
line of the channel around 1.3770 – 1.3800.
Nice bullish channel.
ReplyDeleteThank you for the detailed analysis.
ReplyDeleteVery good post.
ReplyDeleteGbp/Usd still holds up 1.40 level.
ReplyDeleteGood take on markets!
ReplyDeleteGood insight.
ReplyDeleteExcellent assessment as always!
ReplyDeleteExcellent Analysis! Thanks.
ReplyDeleteGood post!
ReplyDelete