GBP/USD on the edge of falling under 1.43

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 31, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Technical Analysis EUR/USD at risk of sinking from weekly R2 “We’re seeing many investors unwinding their long-dollar bets.” - IG Asia Pte (based on Bloomberg) Pair’s Outlook With recovering volume of trading, the Euro continued to grow in value against the Greenback on Wednesday. Consolidation above the first downtrend line led to a spike above the second downtrend placed near 1.1325. The rally was capped by the weekly R2 at 1.1337, which is the last supply under the February high at 1.1377.

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