BXY (British Pound Currency Index) 1W & 1D:
The British Pound Currency Index has been trending to the upside since the beginning of the year. The trend is strong, moving in a classic Higher-High and Higher-Low structure.
The BXY is respecting an ascending trendline from the weekly perspective, and we are currently seeing a minor pullback towards it. We expect...
BXY is facing bearish pressure from our first resistance where we might be seeing a further drop to our first support level. Stochastic is also approaching our first resistance where we might be seeing a further drop in price.
BXY is approaching our first resistance where we might see a corresponding drop in price to our first support level at 6.974. Stochastic is also seeing bearish pressure from its resistance line.
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BXY is approaching our first resistance where we might see a corresponding drop in price to our first support level. Stochastic is approaching resistance level as well.
BXY is approaching our first resistance at 7.0216 (horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 6.9631 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic is also approaching resistance where we might see a...
BXY is approaching our first resistance at 7.0216 (horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 6.9631 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic is also approaching resistance where we might see a...
