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Back Technical analysis
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Back Technical analysis
GBP/USD – September 1: Bearish Momentum Quickly Fades
On the hourly chart, GBP/USD rose
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On the hourly chart, GBP/USD rose to the 100.0% retracement level at 1.3556 on Monday. A rebound from this level would favor the US dollar and a resumption of the decline toward 1.3526 and 1.3489. Consolidation above 1.3556 would allow for further growth toward the resistance level of 1.3633–1.3641. The market situation remains bullish. The latest completed upward wave broke above the previous peak, while the new downward wave has not yet broken below the previous low. Thus, the
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Samir Klishi,
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