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GBPUSD - N/T Focus Turns Higher On Fresh Rally Above Congestion Tops

Discussion in 'Technical Analysis' started by Kaitlin, Aug 31, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    British pound bounced above two-day congestion tops at 1.3118 and broke above Fibo 38.2% of 1.3277/1.3057 downleg at 1.3141. Fresh rally generated bullish signal and sidelined immediate downside risk, as near-term base has formed at 1.3057, lower boundary of near-term congestion.[​IMG]

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