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This if Weekly trending analysis for GBP/USD. GBP/USD's break of 1.2675 resistance indicate resumption complete rebound from 1.1948. Initial bias stays on the upside for 61.7% projection of 1.1947 to 1.2674 from 1.2301 at 1.2750 first. Break will target 100% projection at 1.3024. But we'll expect well-built resistance below 1.3444 resistance to limit upside and bring down trend carrying on. however, break of 1.2301 support is now needed to confirm achievement of the corrective rise. Otherwise, further rise will remain gently in favor in upcoming.In the bigger picture, fall from 1.7196 is seen as part of the down trend from 2.1160. There is no sign of medium term bottoming until now. constantly trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish.In the longer term reflection, no change in the view that down trend from 2.1161 is still in progress. In progress momentum suggests that the down trend will go deeper than initially expected in nearly. Thanks for Viewing our Post.
This if Weekly trending analysis for GBP/USD. GBP/USD's break of 1.2675 resistance indicate resumption complete rebound from 1.1948. Initial bias stays on the upside for 61.7% projection of 1.1947 to 1.2674 from 1.2301 at 1.2750 first. Break will target 100% projection at 1.3024. But we'll expect well-built resistance below 1.3444 resistance to limit upside and bring down trend carrying on. however, break of 1.2301 support is now needed to confirm achievement of the corrective rise. Otherwise, further rise will remain gently in favor in upcoming.In the bigger picture, fall from 1.7196 is seen as part of the down trend from 2.1160. There is no sign of medium term bottoming until now. constantly trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish.In the longer term reflection, no change in the view that down trend from 2.1161 is still in progress. In progress momentum suggests that the down trend will go deeper than initially expected in nearly. Thanks for Viewing our Post.
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