GBP is like a dirty wh#@e... Trade with protection!
It doesn't take a genius to work out and spot key levels on this pairing as historically price respects them, and once again we can see price respecting our support and resistance levels ( green lines ) on this chart.
More recently price has respected a lovely trend line ( TL, Blue line ) that has formed, price has bounced off this TL 5 times in the past 6 days making this a strong TL that must be respected.
From here and taking all factors into account we can only see price continuing to respect this TL all the way to out resistance line, and once at resistance we can see a possible break through resistance pushing price higher.
Please remember to trade with some protection as GBP is like a dirty wh#@e, And you wouldn't get playing around with them without protection would you? ;p
More recently price has respected a lovely trend line ( TL, Blue line ) that has formed, price has bounced off this TL 5 times in the past 6 days making this a strong TL that must be respected.
From here and taking all factors into account we can only see price continuing to respect this TL all the way to out resistance line, and once at resistance we can see a possible break through resistance pushing price higher.
Please remember to trade with some protection as GBP is like a dirty wh#@e, And you wouldn't get playing around with them without protection would you? ;p