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The 1.4000 zone is holding the pair downside quite well at the moment, but general perspective does not change: the pair remains bearish in bigger charts, with daily candles showing lower highs and lower lows. 4 hours chart show a small continuation triangle the pair is attempting to break right now (still not confirmed), that suggest more downside movements. Supports to take care off will be the 1.3990 and 1.3950, yesterday’s minimum zone. under that level, consider 1.3856 and 1.3786 zone. The zone between 1.4070/90 will be first minor resistance for today, followed by the tough zone around 1.4135, 1.4160 (today’s high), 1.4208 and 1.4282.
Hi Valeria how r u ?
pls note that i am your regular blog viewer so today gbp rise 1.4160 and back again to 1.4000 level ,could tomorrow we expect rise in gbp or should wait for break of 1.3850 level to take any position.
Regards
Arun kandal
Hi Arum, I notice yes, and tks! You know, I’m not a long term trader, and I don’t ever attempt to forecast a particular view, that’s why I always try to show you both sides of the coin. My personal view is that despite the U.S is in really bad shape, the rest of the world is just the same.And historically, dollar has always been a “safe-haven”: is the main reserve of many countries around the world, and just as an example: could you imagine oil barrel quoting in any different currency? Anyway back to Gbp, from a technical perspective, i still see it bearish. Too close to the 1.4000 and a huge resistance zone between 1.4135/60.Daily confirmation above that level,could make the pair rise close to 1.4300 level, but only above the roofof the descendant channel around 1.4560, the pair could change perspective.
Regards
Val
HI Valeria
Thx so it mean i should wait for break of support at 1.3850 level and minor resistence at 1.4150level to take any position and below 1.4500 level gbp is in bearish configuration and above 1.4560 gbp change perspective.thx for the post.
Regards
Arun Kandal