-
GBPUSD Challenges Wedge Resistance at 1.2800
GBPUSD has been trending lower since April 2018. At the January 3rd flash crash low, the pair was down nearly 2,000 pips from the April 2018 high. There’s no doubting the fact that sellers have been in control. However, there is a pattern that GBPUSD bears shouldn’t ignore. Similar to EURUSD, the pound has carved what appears to be a falling wedge pattern. If the pair can close above resistance, GBPUSD could see further gains. At the moment, that trend line comes in near 1.2800. A daily close above it would expose 1.2880 followed by the 1.3050/70 resistance area. Alternatively, bearish price action from the ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Jan 11, 2019 12:50pm Jan 11, 2019 12:50pm
- swing77
- Joined Oct 2015 | Status: Ltf market | 1510 Comments
- Comment #2
- Quote
- Jan 11, 2019 12:55pm Jan 11, 2019 12:55pm
- Ghass1234
- | Joined Dec 2018 | Status: Member | 1411 Comments
- Comment #3
- Quote
- Jan 11, 2019 1:13pm Jan 11, 2019 1:13pm
- JoseRicaurte
- | Joined Sep 2012 | Status: Member | 7 Comments
- Comment #4
- Quote
- Jan 11, 2019 1:51pm Jan 11, 2019 1:51pm
- kamifx
- | Joined Jul 2012 | Status: Member | 39 Comments
Don’t follow someone else’s trading advice blindly
- Comment #5
- Quote
- Jan 13, 2019 1:19pm Jan 13, 2019 1:19pm
- userpanx
- | Joined Feb 2018 | Status: Member | 11 Comments