Cable ripped higher from the median line. I was looking for that to provide temporary support and for resistance to come in near 1.3170/85. The former happened…the latter didn’t and I’m questioning whether or not yesterday’s reversal was meaningful or just ‘a dip’. If I solely consider median line analysis, then GBPUSD is a raging bull. The median line was perfect resistance and has been perfect support. The next upside level is the 75 line at 1.3700-1.3800 (red parallel). Proposed support is 1.3139 (volume level).
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
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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.
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: krilogy.com/
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.