GBPUSD - Prolonged Consolidation Expected Above Strong 1.3165 Support

Discussion in 'Technical Analysis' started by Kaitlin, Sep 14, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Cable bounced from strong 1.3165 support (daily cloud base, reinforced by Kijun-sen line), following repeated rejection here. Upside attempts from 1.3165, where hourly double-bottom was formed, were so far capped under 1.3233 barrier (Fibo 38.2% of 1.3344/1.3165), however, extended recovery cannot be ruled out. Next good resistance lies at 1.3275[​IMG]

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