GBP ... Construction PMI must be 51.2 today.... less than forecast...Take care..
GBPUSD Breaks Key Resistance, Targets 1.3650
GBPUSD buyers pushed prices higher yesterday following last week’s 130 pip gain. The 1.3587 close puts the pound above the former resistance level at 1.3545. I mentioned this level over the weekend. The idea was to wait for either a pullback into 1.3445 support or a daily close above 1.3545 resistance. With the break above 1.3545 behind us, traders can begin watching for buying opportunities on a retest of the area as new support. Although I don’t trade or teach it, the price action since late September does resemble a cup and handle formation. It’s a bullish continuation pattern that occurs within an established uptrend, ... (full story)
- Posted: Jan 2, 2018 11:26pm
- Submitted by:Category: Technical AnalysisComments: 2 / Views: 1,666