GBPUSD ANALYSIS
The cable pair broke an ascending support line, now resistance, from September 30 the previous day but refrained from closing below 50-DMA, around 1.3710 now. Given the bullish MACD signals and multiple supports around the 1.3710-3700 area, comprising 50-DMA and 50% Fibonacci retracement (Fibo.) of late July-September fall, the GBP/USD pair’s further downside remains doubtful. Meanwhile, a convergence of the previous support and 61.8% Fibo. level near 1.3770-75 guards the quote’s corrective pullback ahead of the 200-DMA level surrounding 1.3855.
#COPYTRADE# #CoronavirusVaccine# #FedStaysatZeroRates# #WTIgains# #Vietnamesetraders# #FedInterestRateDecision# #CanGoldRetake2000?# #BoE_InterestRateDecision# #RBNZ-Minutes# #USFiscalPlan# #WillGoldHeadtoAllTimeHigh？# #USATikTokAvoidsBan# #APIDataClimbs# #followmeevent#
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.