GBPUSD recently reversed down from the resistance area lying between the resistance level 1.2610 (top of the previous correction (2)), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous down ward impulse (1) from December.
The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Bearish Engulfing.
GBPUSD is expected to fall further toward the next support level 1.2240 (low of the previous impulse wave 1).
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
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- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
- WTI crude oil reversed from the multi-year support level 66.70 - Likely to rise…
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