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
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
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.