GBPUSD extends the pullback off the 1.5929 YTD high to 1.5561 (July 2, 2015 low), retracing 50% of the 1.5170/1.5929 rise (as shown in the 240minute chart). A swing low above the 1.5466 support area (61.8% of the 1.5170/1.5929 rise) is expected. A strong push back above the 1.5661 resistance would signal bottoming and shift the focus to 1.5787 for a retest.
Outlook:
Short term: neutral
Long term: bullish
Outlook:
Short term: neutral
Long term: bullish
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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.