GBPUSD continues to tumble as Carney speaks

Discussion in 'Technical Analysis' started by ForexLive, Aug 4, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Moves toward 1.3100 level As Carney press conference got underway, the GBPUSD has taken another dip. The price is now below the 50% level at the 1.31617 and moved to the low from last Thursday at 1.3116 (the low got to 1.31099). The strongest support target comes in at 1.3047-74 as mentioned in my . The close risk is now the 50% and the low from Monday at the 1.3162 area. Line in the sand risk for shorts are those MAs defined by the 100 bar MA on the 4-hour chart and the 200 hour MA at the 1.3203-10 area.

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