Forex Market Analysis
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| EUR USD ANALYSIS |
GBP/USD dropped to 1.3450 last week and recovered a bit.
Pound – resistance at 1.3740+_ only closed above this level will confirm more up moves, while failing to hold above this level will bring for more down moves to 1.3170+_ the chance of long-term bullish reversal is going down as long as the pound will not break up 1.3830+_ again, rise from 2016 low is viewed as a corrective move
The pound is gaining strength but if large players decide to enter it could change the picture
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| GBP USD ANALYSIS |
EUR/USD technical analysis
Failed to take out 1.2560 resistance and retreated, break up again on daily basis 1.2560 price level will confirm medium term rally resumption and target next key Fibonacci level at 1.2860
However, sustained price below will extend the consolidation pattern from 1.2091 key support with another decline through 1.1760 support.
It’s still early to decide whether price action form 1.0339 is developing into a corrective or impulsive pattern, in the bigger picture this is still seen as a corrective move for the moment.
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| Forex market |
GBP/USD Technical analysis
Below 1.3300 price area, it could bring larger down trend resumption, while we have first to meet 1.3080. On the downside, break of 1.2840 support will indicate short-term topping. If it will fail to stay above the level, it will be turned back to the downside for 1.2640 support current
Long-term chart is showing to us that As long as GBP USD will stay above 1.360+_ Key support the trend is up, the medium-term outlook in GBP USD will remain bullish as long Short term charts show us that As long GBP USD will stay above 1.3900+_ the trend is up
Further targets could hit the top at 1.55 price area!
Next Resistance area stay in 1.4350-80 + _, above this, the price GBP USD could test upper levels at 1.4560-1.4620 price area while crossing those prices will send GBP USD to the 1.4920+_ price area
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| fx analysis |
This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice