GBPUSD Reversal At 1.3602 Weekly Resistance?
- Duncan Cooper , Senior Market Strategist & Trading Mentor at ACY
- 11.01.2022 12:00 pm #stocks , Duncan Cooper is a full-time trader and mentor and the Senior Market Strategist at ACY Securities. Trading full-time since 2009, Duncan's insights are from the battleground of real-time markets, not theory, and he thrives on educating traders to reach their financial goals.
Overview:
Watch the video for a summary of this week’s news releases, a review of the USD index, and a complete top down analysis of the GBPUSD.
GBPUSD Weekly:
Weekly support at 1.3168, resistance at 1.3571 and 1.3602.
Weekly chart is in a downtrend showing lower tops and bottoms. Price has rallied to the 1.3571 to 1.3602 weekly resistance area and 62% fib retracement level.
GBPUSD Daily:
Daily support at 1.3513, resistance at 1.3607.
Daily chart is in an uptrend. Price has tested the 1.3602 weekly resistance level twice over the last four trading days and held. Is this where the weekly chart rally ends?
Watch the video for a full break down of my analysis on how you could trade this pair to the downside based on the 4 hour chart.
Long term target 1.3168 weekly support.
This content may have been written by a third party. ACY makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.
Overview:
Watch the video for a summary of this week’s news releases, a review of the USD index, and a complete top down analysis of the GBPUSD.
GBPUSD Weekly:
Weekly support at 1.3168, resistance at 1.3571 and 1.3602.
Weekly chart is in a downtrend showing lower tops and bottoms. Price has rallied to the 1.3571 to 1.3602 weekly resistance area and 62% fib retracement level.
GBPUSD Daily:
Daily support at 1.3513, resistance at 1.3607.
Daily chart is in an uptrend. Price has tested the 1.3602 weekly resistance level twice over the last four trading days and held. Is this where the weekly chart rally ends?
Watch the video for a full break down of my analysis on how you could trade this pair to the downside based on the 4 hour chart.
Long term target 1.3168 weekly support.
This content may have been written by a third party. ACY makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.
