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160517 GBPUSD

by | May 16, 2017 | GBP/USD | 0 comments

GCMAsia - GBPUSD
GBPUSD
GBPUSD
2017-05-16
Resistance and Support Level Explanation
Resistance 1.2910 H4
Support 1.2845 H4

GBPUSD, H4: GBPUSD remains traded within a sideways channel while recently retraced from the 60-moving average line (green). A closure below the 20-moving average line (red) would suggest GBPUSD to be traded lower in short-term, towards the target of support level at 1.2840. Long-term trend direction could only be determined after a successful breakout from either side of the channel.

 

Resistance level: 1.2910, 1.2985, 1.3060

Support level: 1.2845, 1.2770