****** A modest faltering over the past 24 hours after the recent, firm rebound effort has simply reinforced the broader non-trend theme, having previously setback from ahead of flagged topping resistance at 1.5490/5330, but held firm support at the 1.5030/00 basing area.
****** This maintains a neutral non-trend theme this week and favours further erratic consolidation between these areas.
WHAT CHANGES THIS?
****** Downside: Below 1.5030/00 would re-energize downside risks for extension to the cycle lows at 1.4830/15.
****** Upside: A push above 1.5530 is needed to re-energize bull pressures for the June swing high and retrace target area at 1.5750/90, maybe 1.5844/79.
Please see latest audio-visual analysis here: members.marketchartist.com/Daily/GBPUSD.pdf
Daily GBPUSD
Originally Published on FX Times
****** This maintains a neutral non-trend theme this week and favours further erratic consolidation between these areas.
WHAT CHANGES THIS?
****** Downside: Below 1.5030/00 would re-energize downside risks for extension to the cycle lows at 1.4830/15.
****** Upside: A push above 1.5530 is needed to re-energize bull pressures for the June swing high and retrace target area at 1.5750/90, maybe 1.5844/79.
Please see latest audio-visual analysis here: members.marketchartist.com/Daily/GBPUSD.pdf
Daily GBPUSD
Originally Published on FX Times
by InformedTrades via InformedTrades
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