GBPUSD Short-term Technical Outlook Short

British Pound/U.S. DollarFXCM

Description

⋅ Jan 12, 2017 12:33 AM

These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day.

Good evening traders.

Despite the rally off spike lows at 1.2039, pressure remains to the downside below the week's high at 1.2278.

Only a break above the latter will put pressure on the upside and eye highs at 1.2432.

At this point shorting opportunities are still preferred until proven 1.2278 is taken out.

Enjoy!

Comments

Fxbahrain

⋅ Jan 12, 2017 9:37 AM

Sorry i mean a move down to 1.2130 .. will create a big support to 1.2500 .. i think we will end the week on 1.25 but first we will retest 1.2100 level today or tomorrow and maybe by tomorrow we will see 1.25

Fxbahrain

⋅ Jan 12, 2017 9:29 AM

Love your analysis , great job .. i personally believe we will spike to 1.2335 which will act as a strong sell signal to target 1.2000 but i will be keeping targets around 1.2050 to be conservative .. another buying opportunity which can really create fast bounce up in the pound is from 1.1980 .. you will see quick up move to 1.2500