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Forex technical analysis: GBPUSD finding support near a familiar area

Discussion in 'Technical Analysis' started by ForexLive, Aug 25, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Something about 1.3175 area The GBPUSD moved to new session lows after the better US durable goods order data, and a new low for the day was also made at 1.3172 vs 1.3177, but there is something about the 1.3172-77 area in the GBPUSD over the last few days. Looking at the hourly chart below, sans a few bars (one on August 19 and 4 yesterday), the line area has been a dividing area between bulls and bears. Stay above it bullish. Move below it bearish (unless it fails - we always look for momentum on a break).

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