GBPUSD has stopped falling for now but there’s no real upside push just yet

This morning has been one of price discovery. The pound suffered from the weekend news but finally found a base around 1.3061. We clambered back above 1.3080 and it’s become support again. The next battle is at 1.3100 and so far we’re finding it tough going.

GBPUSD 15m chart

GBPUSD 15m chart

GBPUSD is facing into a strong wind as EURUSD takes a jump to 1.1674 from around 1.1654. There’s some euro strength appearing acorss the board and that’s helping put a bid in EURGBP, and thus contain GBPUSD. Add it all together asnd we can see why 1.3100/10 is looks fairly strong so far.

 

 

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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