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GBPUSD moves back above close resistance.

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

  1. ForexLive

    ForexLive Forum Member

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    Squeezing some of the shorts The GBPUSD has moved back above the weeks lows and the 50% at the 1.3161. The level tried to hold but resistance gave way and the intraday sellers, turned to buyers. Now the waters are a bit more muddy as the 1.3161 is now support with resistance near the 1.3186 level now (intraday highs and the 50% of the move down from the 1.32616). See the yellow area in the chart below.

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