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GBPUSD making bearish swings

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBPUSD has spiked above 1.4600 zone and as I have shown in the latest AUDUSD coverage very often a retracement is mistaken for a trend change which is wrong. Similarly to AUDUSD (which has perfectly rejected from POC making 180 possible pips), the GBPUSD is in a similar situation. Any retracement towards POC zone could be considered another sell into rally with the 1.4255-40 as the target zone. POC (Xcross, 50.0, EMA89, Bearish order block) comes within 1.4500-10 zone. Rejections from the

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