nch

Reaching important key levels

FX:GBPUSD   British Pound/U.S. Dollar
54 1 4
GBPUSD             is close again to important key level. As you can see previous support becomes resistance

So here there are 2 scenarios:
1. The pair could bounce again from that level and will go down
2. I could break it, then bounce back to it and continue up

I can't say what is more likely to happen, but we need to watch out for this levels

Related Ideas

nch
High RR ratio
nch about USDJPY 8 months ago
Piet.Hein
8 months ago
Nice levels, I agree with you
Reply
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