novvoll12
Short

GBPUSD-Probes below 3.5-month support to eye equality target

FX:GBPUSD   British Pound/U.S. Dollar
26 0 0
GBPUSD             1.5167 bearish — Probes below 3.5-month support to eye equality target

GBPUSD             slumped from the 1.5658 high (September 18, 2015) to probe below the 1.5169/1.5163 3.5-month range support zone (June 1, September 4, 2015 lows). That signals scope for further weakness towards 1.5088 (May 5, 2015 higher low) ahead of the 1.5003 equality target (1.5818-1.5163 from 1.5658).
The 1.5329 area (September 15/16 lows) near the 200 day moving average currently at 1.5332 and the 20 day moving average currently at 1.5341 should cap near-term bounces. However, a concerted push back above the zone would caution bears and prolong the 3.5-month range-bound price action.

Outlook:
Intraday: bearish
Daily: bearish
Weekly: neutral
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out