Another pair battling between big figures

  • GBPUSD survives a dip under 1.3500 yesterday
  • UK services beat, nor Mortgage and consumer credit data manages to ignite the quid. All quiet on the Brexit front too
  • 1.3530 overnight resistance shows signs of becoming support as we move to a high of 1.3560. 55 H1MA at 1.3553
  • 1.3570 still minor resistance from yesterday. 1.3580/90 will hold more ahed of a test of 1.3600
  • Double top formation still a possibility if we test and fail again at 1.3600 or 1.3615/20
  • Under 1.3530 support is likely to be minor at 1.3520 & 1.3505/10. The 100 H1MA has played an interesting support role, currently at 1.3514
  • Stops are still likely lurking under 1.3500 and probably sitting around 90, given the low yesterday, which matched the Dec 29th low also
  • Support is seen also at 1.3480/85, and stronger at 1.3445/50
GBPUSD H1 chart

GBPUSD H1 chart

 

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

Pin It on Pinterest