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Forex technical analysis: GBPUSD consolidates as Carney speaks

Discussion in 'Technical Analysis' started by ForexLive, Apr 19, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Below trend line at 1.4407 The GBPUSD has been consolidating as BOE Carney testifies before the Lords Economic Affairs Committee. The price has a a double bottom at the 1.4381 level on the 5-minute chart. The 1.4407 level (trend line on the daily chart) continues to be a level of importance today. The price has moved up to 1.4418 and then 1.44146 on the two separate looks above that trend line level. Will sellers lean more against the level now that the momentum has slowed? It still is a key level for me today (and going forward).

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