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Forex technical analysis: GBPUSD moves above trend line resistance

Discussion in 'Technical Analysis' started by ForexLive, Sep 2, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Markets are tricky though. Trend line on the daily chart for the GBPUSD has been broken in trading today. That level comes in around the 1.3328 area. Admittedly, the price has traded above and below that line in in trading since the employment report (see minute chart below), but the price just fell down to the line and held. Traders who are leaning against the line will be looking for an extension above the highs as a trade. If it cannot break and run, and the price moves back below, there could be some disappointment.

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