GBPUSD Sideways Following Record Lows!
The GBPUSD made record lows in September this year. Price declined to a new all-time
low at 1.0356 as it passed the low of February 1985 which was at 1.0520.
The British pound has strengthened since then, rising up 16%. And in doing so it has
moved back into the long-term consolidation zone.
Within consolidation, price is currently around the 1.2000 round number which may
hold as resistance. But ultimately we are waiting for a breakout of consolidation resistance
at 1.4376 or support at 1.1409.
Patience will be require for this asset as it could take months or years before a setup occurs.
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See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
low at 1.0356 as it passed the low of February 1985 which was at 1.0520.
The British pound has strengthened since then, rising up 16%. And in doing so it has
moved back into the long-term consolidation zone.
Within consolidation, price is currently around the 1.2000 round number which may
hold as resistance. But ultimately we are waiting for a breakout of consolidation resistance
at 1.4376 or support at 1.1409.
Patience will be require for this asset as it could take months or years before a setup occurs.
If you enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
