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GBPUSD reaches retracement level and reverses

Discussion in 'Technical Analysis' started by ForexLive, Sep 8, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Ryan picked that high... In earlier posts today, Ryan spoke of the 1.5414 target (I have 1.5409 but no need to split hairs) for the GBPUSD's surge higher. The level corresponded with the 38.2% of the move down from the August 25 high. The high extended to 1.54114. Bingo. Nice call Ryan. PS. there was other resistance against the September 1 high and the topside trend line on the hourly chart (see chart below)

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