GBPUSD paying attention to two breakout points

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The GBPUSD has rejected from 1.5180 initially but it stopped in 1.5130 zone being unable to proceed lower. 1.5210 was hit afterwards making it strong POC at this time. But as we can see on the chart POC is actually a CONGESTION zone so the reaction to both longs and shorts could be limited in effect and that is why we need to watch for possible breakout points. To the upside we have important 1.5250 zone ( consolidation top, H3 ) so a bounce above 1.5250 should target 1.5275 and 1.5305. If the

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