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GBP/NZD 1H Chart: Channel Up

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 12, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    GBP/USD 1H Chart: Channel Down Comment: The Cable keeps trading between two falling parallel trend-lines, and it seems that the momentum will be preserved for a while. The rallies are to be capped by 1.4580, and even a break-out to the upside will not imply a prolonged recovery, being that around 1.4650 resistance is created by the daily R2, Jan 8 high, and 200-hour SMA. The immediate support is at 1.4495/90, but expect a sell-off down to 1.4450/40 before there is a notable upward correction.

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