GBPUSD Bounces Back
The British pound has staged a strong bounce back against the US dollar, with the pair recovering back above the 1.3500 resistance zone. The technical analysis highlights that an extremely large bullish reversal pattern still remains in play on the higher time frames. Dip-buying appears to be the top strategy for GBPUSD short-term traders while the price holds above the 1.3380 level.
The GBPUSD pair is only bullish while trading above the 1.3480 level, key resistance is found at the 1.3630 and the 1.3800 levels.
If the GBPUSD pair trades below the 1.3480, sellers may test the 1.3420 and 1.3380 support levels.
Reprinted from ActionForex，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.