EMA 15 and ema 21 on D1 can act as resistance. SL 60 pips above.
The structure on the chart shows that 115 is a target that this pair should be moving towards to. However, a break and close below 112.0 will negate this view. Cheers!
Bulls are testing the bears resolve at this level.
Testing 100 ema and above that we have some room to the upside.
Consolidation after a burst upwards. 1.29 needs to be broken before the pair can head higher.
Although we have some retracement lately, I believe the downtrend is not over yet. A retest of 110.0 is still possible before further down moves. So I am bearish this pair but I think a retrace back up to 110 is still possible.
Lets see whether the bulls will come in on time.
On the H4, price is supported by the 0.786 Fib level. Looking for upmove from here. SL at 112.40.
GBPUSD on H2 is moving sideways with a slight bearish bias for now.
We are seeing a retracement after the sharp fall from 1300 and above price zone. 1250 is nearest support. A fall below that and 1200 is next support level.
This pair is looking bullish on the daily time frame with this inverse head and shoulders pattern.
Bullish outlook on this pair as we see an inverted head and shoulders, a bullish reversal pattern on the daily time frame.
Bounce off the lower channel line back to support turn resistance channel line.
It has to break out of the pitchfork channel if it wants to retrace higher. Right now its camping.