GBPUSD knocks out resistance around 1.3165/75

Someone must like the Brexit headlines because I see no other reason why the quid has jumped. Maybe it’s a case of, ‘no bad news, is good news’. Whateverrrr

GBPUSD H1 chart

GBPUSD H1 chart

Anyway, we’ve cleared that speedhump up to 1.3190, which is natural protection of the 1.32 big figure. Through there we’ll meet our old mate at 1.3220/25 to see how he’s doing.

If this jump has legs then 1.3165/75 will become support. If it doesn’t, back we go into the intraday range.

On another front, EURGBP has broken through a bunch of technical support in this move.

EURGBP H1 chart

EURGBP H1 chart

We have the H1 ma’s here and the 55 H4ma at 0.8830. Bar minor support around 0.8820, 0.8800 is likely to be in play should this move continue. Watch for resistance to try and build around 0.8840/50.

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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