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Forex technical analysis: GBPUSD tests lower trend line

Discussion in 'Technical Analysis' started by ForexLive, Jul 7, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Trend line and London morning low tested. Also the close from yesterday tested. It is hard to buy the GBPUSD but the pair is testing a trend line and the London morning session low. The price just dipped below each and has bounced a touch. Trend line comes in at 1.2935. The line was broken and the price skidded down to 1.2926. The London session low comes in at 1.2941. The GBPUSD closed at 1.2928 yesterday. There is not a lot of news out so markets can move back and forth. Taking out some stops and rebounding cannot be ruled out.

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