GBPUSD - At a Cross Roads

FX:GBPUSD   British Pound / U.S. Dollar
The pound - dollar currency pair got to a cross roads. From September 2013 the 100 EMA has managed to keep the price above. At this point the MA is retested. We can presume that the price will bounce again and continue the up trend. But what will happen if the support will be broken? Interesting, no?
There's one more thing that should be taken into consideration, as Great Britain GDP is almost 80% services based and they don't export much stuff. Great Britain may gain alot on the new Europen Union Sanctions as they are the economy which should not be harmed by economic sanctions.. Also Pund might be considered as "Safe Heaven" versus Euro. Technicaly speaking we are still in uptrend and that's quite clear, I'd be worried if we manage to break 1,692 and then 1,682 levels, not yet.
+1 Reply
Razvan tomasz.goljan
You are right, all the signals are still bullish :)
no more bullish signal?
Razvan jaszper.liew
The up trend in not yet invalidated. A break above 1.6950 can be a good bullish signal :)
+2 Reply
thanks Razvan!
Razvan jaszper.liew
you are welcome :)
hi Razvan , gbpusd already broke the line and it heading 1.67...is that still possible bounce back 1.7?
Razvan jaszper.liew
to 1.7, i don't think so, but it could retest the 100 ema and continue the downtrend. Only a false breakout could signal a comeback to 1.7
I think retrace is over here, Now aiming for higher high.
Razvan Mazen_alhegili
it might happen this way :)
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