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Mihai_Iacob

GbpUsd is facing strong resistance

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
Mihai_Iacob  
OANDA:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators GBPUSD gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdsignals forexsignals signalprovider signalservice
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trendanalysis chartpattern indicator gbpusd gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdsignals forexsignals signalprovider signalservice
As I said in my previous analysis, there is a very high chance that 1.03 is the bottom for GbpUsd, and as long as 1.1 holds, 1.1750 is in focus.
Yesterday this zone was touched and we can see from the posted chart that 1.1750-1.18 is an extremely important resistance.
Even if 1.03 is the bottom, I don't think that GbpUsd will start an up trend in the near future and rage trading is a probable scenario for this pair.
Rallies above 1.1750 could be sold and 1.12 could be the target.


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