GBP/USD Tests Down-Trend, Confirms Pattern

Discussion in 'Technical Analysis' started by Kaitlin, Dec 18, 2015.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
    Likes Received:
    Despite upbeat UK Retail Sales data yesterday, the GBP/USD currency pair extended its post-Fed slump. Trade closed near the 1.49 major level and, thus, just in front of the falling wedge's support. This trend-line, also bolstered by the monthly S1 and weekly S2, should contribute to the Cable's rebound. The[​IMG]

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