GBPUSD's fall from 1.6661 was contained at 1.5801, slightly above 1.5778 cluster support (38.2% retracement of 1.4395 to 1.6661 at 1.5795), and rebounds strongly, with an intraday low in place, some more recovery should be seen but upside is expected to be limited by 61.8% retracement of 1.6661 to 1.5801 at 1.6332 and bring fall resumption. Below 1.5985 will flip intraday bias back to the downside. Also, note that firm break of 1.5778/95 cluster support will confirm that rise from 1.4395 has completed at 1.6661 already. In such case, deeper fall should then be seen to channel support (now at 1.5213) next.
In the bigger picture, recent development argues that rise from 1.3503, which is treated as correction to down trend from 2.1161, may have completed at 1.6661, inside mentioned 1.6428/7332 resistance zone (38.2% and 50% retracement of 2.1161 to 1.3503). Sustained break of the trend line support (now at 1.5213) will confirm this case and target a retest of 1.3503 low next. On the upside, though, a break above 1.6661 will indicate that such rebound fro 1.3503 is still in progress. Nevertheless, focus will remain on reversal signal as this correction is expected to conclude inside 1.6428/7332 resistance zone.
In the bigger picture, recent development argues that rise from 1.3503, which is treated as correction to down trend from 2.1161, may have completed at 1.6661, inside mentioned 1.6428/7332 resistance zone (38.2% and 50% retracement of 2.1161 to 1.3503). Sustained break of the trend line support (now at 1.5213) will confirm this case and target a retest of 1.3503 low next. On the upside, though, a break above 1.6661 will indicate that such rebound fro 1.3503 is still in progress. Nevertheless, focus will remain on reversal signal as this correction is expected to conclude inside 1.6428/7332 resistance zone.
Attached Image
for us session????
-=I Lurve Making A Mistake=- 
-=Forex 4 Life=-
