GBPUSD- 17Feb2022
On the daily, price have rebounded above 20EMA and descending trendline on the back of higher than expected UK CPI data. Price looks like it wants to bounce higher to retest the 200MA at 1.3688.
On the H4, price flirted with the descending trendline once again before facing bearish pressure and closed lower. In order to have further bullish momentum, GBPUSD have to break above the descending trendline and 1st Resistance at 1.36110 first.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the daily, price have rebounded above 20EMA and descending trendline on the back of higher than expected UK CPI data. Price looks like it wants to bounce higher to retest the 200MA at 1.3688.
On the H4, price flirted with the descending trendline once again before facing bearish pressure and closed lower. In order to have further bullish momentum, GBPUSD have to break above the descending trendline and 1st Resistance at 1.36110 first.
This is for personal record purposes only, not financial advise or solicitation of trade.