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Farooq

Technical Analysis – GBPUSD _ 19-02-2019

HomeTechnical AnalysisTechnical Analysis – GBPUSD _ 19-02-2019
19
Feb
Technical Analysis – GBPUSD _ 19-02-2019

The pair is retreating after losing its bullish momentum near the resistance zone 1.2960 … breaching the upper limit of the channel shown on the chart is the weakest probability of a decline, but it remains as long as the trades remain below the mentioned resistance, and the price could target 1.2820 again as the first target then 61.8 Fibonacci around 1.2700 – 1.2720 as the second target.

A break of 1.2960 with a four hour closing might be enough to end the downside scenario and the pair could then push towards 1.3090 as the first target and then 1.3210 as the second target.


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