GBP/USD is moving towards a line of 1.2634 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If GBP/USD continues in its current trajectory, we may see it move towards 1.2634 within the next 12 hours.
Related Posts
AUDCAD – approaching a resistance line that has been previously tested at least twice in the past
The movement of AUDCAD towards the resistance line of a Triangle is yet another test of the line…
USDJPY is approaching 147.0125. We expect either a breakout through this line, or a rebound.
USDJPY is about to retest a key horizontal support level near 147.0125. It has tested this level 4…
EURJPY is signaling a possible trend reversal on the intraday charts with price not breaching resistance.
EURJPY is trapped in a Channel Down formation, implying that a breakout is Imminent. This is a great…