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Forex technical analysis: GBPUSD the focus pair of the day

Discussion in 'Technical Analysis' started by ForexLive, Aug 18, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Up. Up. Up. The GBPUSD was pushed higher on the back of the strong beat in the retail sales (). click here for must reading The price action has take the pair up to the 50% of the post-Brexit range. That encompasses 1.3522 high and a 1.2789 low. The midpoint comes in at 1.31607. The high today reached 1.3171 (currently trading at 1.3146). Bulls need to get that price above that next target. We cannot talk about higher levels until the midpoint is broken. A move above will eye the 1.3248 (61.8% of the move down)

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