Invezted

Gbp/Usd Daily Market outlook

FX:GBPUSD   British Pound / U.S. Dollar
Context:

after a strong rallie price broke a major supplyline, but found resistance @1.555x
the correction resulting in that , brought us near the 50% retracement of the rallie, where price
now makes another attempt to tackle the resistance level , price formed somewhat near the recent high
an indecsion but it resoloved itself to the upside , which is a sign of stenght, if price fails again to takeout the
resistance we may form a range with support @50280 and resistance @555x , however a break of @555x is also a
major sign of strenght returning to the market


signs of strenght:
rallie broke major supplyline
50% retracement holds
indecision resolved itself to the upside

signs of weakness:
resistance still holds
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