Technical Market Overview:
The GBP/USD pair has broken the technical support zone located between the levels of 1.2960 - 1.2938 and made a new local low at the level of 1.2928 despite a desperate attempt to break through the orange trendline. The main resistance for bulls is currently located at three levels: 1.2977, 1.2996 and 1.3012. The market conditions are now oversold, but the target has not been hit yet as it is located at the level of 1.2895.
Weekly Pivot Points:
WR3 - 1.3190
WR2 - 1.3152
WR1 - 1.3051
Weekly Pivot - 1.3014
WS1 - 1.2910
WS2 - 1.2866
WS3 - 1.266
Trading recommendations:
Daytraders should close the sell orders at the level of 1.2960 with profit and then wait for another good setup to occur in order to open another sell position.
No comments:
Post a Comment