Last Monday Asian night to Tuesday whole day USD being in strength GBPUSD fell nearly 135+ pips within that period.
Sentiment
- As we can see on the chart 0% Fibo Retracement level: 1.36175 top to bottom 100% Fibo Retracement level: 1.34524 which was nearly 135+ pips within one an half days of new week session run. In my opinion from the sentiment side now GBPUSD is too much sold and sellers are being exhausted now and it indicates those buyers who are foaming their mouth on a cheap rate of GBPUSD and willing to buy.
Technical
- On the chart, you can see a red and green box in the left-hand side which are the key point for overall trend reversal cause one is the peak and one is the trough acting as strong support zone and resistance zone respectively. Why would price move up? Price retrace after whole 100% fall from Fibo Retracement level: 1.34524 which it was close to the earlier lowest point: 1.34609 that made this whole Fibo Retracement levels more valid as we found to know that price somehow admires this level and we knew that this level is a strong support zone now!
- Our Symmetrical Triangle got breakout which can be a more good reason for the price to continue moving in toward upward direction.
- 10 days shorter EMA (blue line) crossing above middle line of Bollinger band (black line) could be an indication to price heading toward upward direction.
Sentiment
- As we can see on the chart 0% Fibo Retracement level: 1.36175 top to bottom 100% Fibo Retracement level: 1.34524 which was nearly 135+ pips within one an half days of new week session run. In my opinion from the sentiment side now GBPUSD is too much sold and sellers are being exhausted now and it indicates those buyers who are foaming their mouth on a cheap rate of GBPUSD and willing to buy.
Technical
- On the chart, you can see a red and green box in the left-hand side which are the key point for overall trend reversal cause one is the peak and one is the trough acting as strong support zone and resistance zone respectively. Why would price move up? Price retrace after whole 100% fall from Fibo Retracement level: 1.34524 which it was close to the earlier lowest point: 1.34609 that made this whole Fibo Retracement levels more valid as we found to know that price somehow admires this level and we knew that this level is a strong support zone now!
- Our Symmetrical Triangle got breakout which can be a more good reason for the price to continue moving in toward upward direction.
- 10 days shorter EMA (blue line) crossing above middle line of Bollinger band (black line) could be an indication to price heading toward upward direction.