Technical Analysis

GBPUSD trades between trend lines on hourly chart

On more strength watch 1.3205

The GBPUSD is higher, but the price action has seen ups and downs on the way higher.

The highs have seen stalls near a topside trend line. The last run higher did push a bit above the line, but the rally petered out and the price has moved back toward a lower trend line. 
The topside trend line comes in at 1.3173. The lower trend line cuts across at 1.3109.

A break of either should solicit sellers or buyers on the break.

Taking a broader look at the daily chart, the move higher today pushed the price closer to a topside trend line at the 1.3200 area.   A break above that level looks toward the October and September highs at 1.3257 and 1.3298. The 38.2% of the move down from the 2018 comes in at 1.33163.  


Articles You May Like

Exness Urdu Forex Training Webinar – Basic Concepts Of Forex – Part 01
Apple falls away from the 200EMA on the Daily Chart
USD/CNY: Watch for 7/7.005 for a potential top – Goldman Sachs
Royal Institute of Business unveilings Kenya’s first Forex Trading School
ECB’s Knot: Impact of economic slowdown not enough to change outlook

Leave a Reply

Your email address will not be published. Required fields are marked *