CapMoore

GBP/USD Weekly Study: Price stands at major support levels !

FX:GBPUSD   British Pound/U.S. Dollar
158 0 1
Price turned right at long-term SR level/Yearly Pivot R1
and is now standing at the Monthly S1 and also close to
S/R level going back to feb 2104 at 1,6750. This week,
the 1,6750 level is also matched by the 3rd Quartile in
the Uptrend Pitchfork , which will add support. Longs from
this level should have stops below this level and below 1,67
Chances are this current level will hold as support and price
will bouncefrom here. Next support levels are 1,6630 and
1,65
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