Sterling Stalls at Resistance- GBP/USD Breakout Pending

The British Pound is testing Fibonacci resistance for a fifth consecutive-day at the 78.6% retracement of the 2021 decline at 1.3414- looking for a breakout of this multi-day consolidation for guidance here with the immediate rally vulnerable while below.

A topside breach exposes the 2019 high at 1.3515 and the 1.36-handle. Initial support rests with the August high-day close (HDC) / 2021 low-week close (LWC) at 1.3260/73 with broader bullish invalidation now raised to 1.3091.

Michael Boutros
MBForex
Technical IndicatorsTrend Analysis

Anche su:

Declinazione di responsabilità