TipTVFinance

GBP/USD - bullish break, could be a trap

FX_IDC:GBPUSD   POUND STERLING / US DOLLAR
GBP/USD             fell below hourly 50-MA and made move towards rising trend line as anticipated, but turned from half way through as it found bids near 1.4533 (50% of 1.5230-1.3835). Hourly chart now shows bullish break from falling expanding channel. However, spot faces strong resistance around 1.4617 and 1.4633.

  • If taken out another hurdle is waiting around 1.4669. Only a daily close above 1.4669 would signal continuation of the rally.
  • Till then, caution needs to be observed as selling pressure may emerge anywhere between 1.46-1.4669 levels.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
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 Account and Billing Sign Out