GBP/USD - Major Support Level Comes Into View...來自PhoenixMan

15 May 2020, 15:11 · 閱讀量 484

A more convincing cloud break as bears stamp their authority on price
Early Thurs weakness just stalling at the 30DMA lower Bolli, 1.2191
Apr 7 1.2166 low now the key support but bears look to major Fibo below
A 50% retrace of 1.1413 to 1.2648 is at 1.2031
Weeklies look ugly for the pound and target 1.2035 lower Bolli
Fading up-ticks favoured while below 1.2340, Wed high

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Hi guys, Happy Monday! This is my GBP/USD Trade Analysis. Current trend of this pair is uptrend. support Levels: 1.3000. Resistance Levels: 1.3173. Whilst this level was previously holding repeatedly as a resistance level, price has now strongly broken above it. This level is now looking to act as a role reversal and new support level for a new push higher. If this level can hold as a new support in the coming sessions we can look for long trades and for a new leg higher. The next resistance comes in around 1.3173 which is a key level for this market as it has held as a major resistance on the daily chart many times this year.

PhoenixMan

The price for EUR/USD pair continues to fall as I expected. The impulse for the fall was a strong resistance line, from which the price bounced off in the last week's end. Now the price has broken through the small resistance line. I expect to touch this line again and continue to fall. The final target is the support line at 1.168. What do you guys think?

PhoenixMan

Hi guys, the price on the EUR/USD has sold off heavily lower in the last few sessions. As the attached daily and 4 hour charts show, price has also broken through multiple support levels when making this move lower. The best play in the near term could be to look to trade inline with this momentum lower with any quick rotations back higher into value. Price has just broken through the recent support level around 1.1691 and if we can see price move back into this level it could look to act as a new role reversal resistance level. This could also be a level to look for potential short trades with the recent momentum lower.

PhoenixMan