Forex4you - Analytics

    Forex4you

    565.50 6.50/10
    60% of positive reviews
    Real

    GBP/USD: falling within consolidation range

       
    Cable is consolidating in a range after rebounding following hitting lows at 1.5329.

    Within said range it is currently moving lower today after the release of negative Retail Sales data which undershot expectations.

    The very short term trend is unclear, but Money Flow is favouring upside, and a break above the key resistance level at 1.5675 – a level which has been touched and has repelled price several times – looks possible and would probably result in a sharp move higher, to an eventual target at 1.5752.

    Alternatively, a clear break below the 1.5528 lows might reach a target at 1.5475.
    GBPUSD23b

       
    Cable is consolidating in a range after rebounding following hitting lows at 1.5329.

    Within said range it is currently moving lower today after the release of negative Retail Sales data which undershot expectations.

    The very short term trend is unclear, but Money Flow is favouring upside, and a break above the key resistance level at 1.5675 – a level which has been touched and has repelled price several times – looks possible and would probably result in a sharp move higher, to an eventual target at 1.5752.

    Alternatively, a clear break below the 1.5528 lows might reach a target at 1.5475.
    GBPUSD23b


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree