Weekly Trade Ideas on GBP/USD, AUD/USD and S&P500

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Weekly Trade Ideas on GBP/USD, AUD/USD and S&P500

Postby kreslik.news » Sun Jun 05, 2016 9:42 am

GBP/USD – sterling/dollar falling lower from resistance

The GBP/USD has basically been confined within a larger trading range for most of this year. The trading range support is down near 1.4000 and the resistance is up near 1.4730. In the chart below, you can see a strong level of resistance at the upper boundary of the range, near the 1.4730 area. Notice that this level has contained price recently and on two recent occasions price has collapsed after testing this resistance so it’s clearly a key level to pay attention to the upside. Friday’s large daily price bar shows a ... (read more)

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