GCMAsia - GBPUSD
GBPUSD
2017-08-25
| Resistance and Support | Level | Explanation |
| Resistance | 1.2850 | H4 |
| Support | 1.2790 | H4 |
GBPUSD, H4: GBPUSD was traded flat around the strong support of 1.2790 due to lack of bearish momentum. MACD indicator which illustrate diminishing downward momentum suggests GBPUSD to be traded higher in short-term as technical correction. Otherwise, long-term trend direction still suggests ongoing downside bias.
Resistance level: 1.2850, 1.2900
Support level: 1.2790, 1.2720