This pair has been supported by a major trendline spanning from October 2014 and has now been valid on three occasions. The significant number of 178.00 was too strong for bears to break through. It closed on the 0.5 Fib figure. RSI is very over sold and shows sign of a developing divergence. JPY has been strong this week but GBP will regain strength soon.
Comments
anilmangal
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good analysis but a little too early, watch not only for a pullback but for a retest of low (break ) then reverse
Gekko.uk
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Thank you. I have learned this in the past few months. I do not rush trades anymore