GBPUSD
GBPUSD again tried to penetrate the support area 1.13502 - 1.13695 for the third time this week and re-ejected. The downtrend is still quite visible in this pair with a reversal point at resistance 1.16714. Tonight's FOMC will determine whether the Cable will continue to fall deeper through this support or start a reversal and end the downtrend.
We test the waves with BUY LIMIT at 1.13750 SL 1.13397 TP 1.15400
R3 1.16714
R2 1.15414
R1 1.14139
PV 1.13695
S1 1.13502
S2 1.10793
S3 1.08693
GBPUSD again tried to penetrate the support area 1.13502 - 1.13695 for the third time this week and re-ejected. The downtrend is still quite visible in this pair with a reversal point at resistance 1.16714. Tonight's FOMC will determine whether the Cable will continue to fall deeper through this support or start a reversal and end the downtrend.
We test the waves with BUY LIMIT at 1.13750 SL 1.13397 TP 1.15400
R3 1.16714
R2 1.15414
R1 1.14139
PV 1.13695
S1 1.13502
S2 1.10793
S3 1.08693