GBPUSD - Short-term neutral –The 1.5356/5320 support zone is key
GBPUSD 1.5387 – Short-term neutral – The 1.5356/5320 support zone is key
GBPUSD pulled back off the 1.5475 high (10 September), turning the intraday bias to neutral as consolidation is taking hold. A swing low near the 1.5356/5320 support zone (38.2%/50% of the 1.5163/1.5475 upleg) remains favored ahead of the next upleg through 1.5475 to challenge the 1.5507 resistance (August 27, 21015 high, near 50% retracement of the 1.5818/1.5163 fall at 1.5489) ahead of 1.5566 (61.8% of the 1.5818/1.5163 fall). However, weakness below the 1.5338 area (September 10, 2015 low, near 1.5320) would caution bulls and shift the focus to 1.5268 (September 8, 2015).
Outlook:
Intraday: neutral
Daily: bullish
Weekly: neutral
GBPUSD pulled back off the 1.5475 high (10 September), turning the intraday bias to neutral as consolidation is taking hold. A swing low near the 1.5356/5320 support zone (38.2%/50% of the 1.5163/1.5475 upleg) remains favored ahead of the next upleg through 1.5475 to challenge the 1.5507 resistance (August 27, 21015 high, near 50% retracement of the 1.5818/1.5163 fall at 1.5489) ahead of 1.5566 (61.8% of the 1.5818/1.5163 fall). However, weakness below the 1.5338 area (September 10, 2015 low, near 1.5320) would caution bulls and shift the focus to 1.5268 (September 8, 2015).
Outlook:
Intraday: neutral
Daily: bullish
Weekly: neutral
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.