GBP/USD Trendline Breakout

[DannyBly]

GBP/USD has broken the major downtrendline and rallied to the 50% level of the recent downmove. RSI remains bullish. The next major 50% retracement level is at 202.61.



Analysis By TradersLog.com

[Konf]

GBP-USD
It may meet resistance in 1.6262 - 1.6376 zone for a drift down to 1.5920 zone, after which bounce to 1.6495 is anticipated.

[zigzug]

Hm...in what direction I can invest smaller then 0.09$?

[Konf]

GBP-USD
It should stay in a range trading between 1.6066 and 1.6369 for a while.

[Konf]

GBP-USD
It may meet resistance in 1.5547 - 1.5568 zone for a drift down to 1.5483 zone, after which bounce to 1.5713 is anticipated.

[zigzug]

Thanks, and from what position to start? (раком или как)

p.s. 1.5547 - 1.5568 zone - interesting zone.

[Konf]

POUND. Channel 1,5269 - 1,6730. Wait the touch of scopes.

[jeffsmith]

Hello everyone. New here tho I have been reading this forum for a week now.Here goes my first post

Today GBP USD looks like in a consolidation after the last bearish movement. Volatility is low.. price should find a resistance below 1,5000 (165 pips)

[jeffsmith]

Loking at GBP/USD intraday- key ST resistance at 1.5.
Pivot: 1.5
Preferred: Short positions below 1.5 with targets @ 1.4815 & 1.467 in extension.
Alternative scenario: Above 1.5 look for further upside with 1.51 & 1.513 as targets.
Comment: the RSI has banged against a major resistance around 70% and is reversing down.
It is being said the pound's decline will assist GB's economy so as long as it doesn't turn into a ``run'' on the currency.Investors are selling the pound on concern about the size of GB's recession.