The GBP/USD has broken the 1.6440 minor resistance line and reached the 1.6474 high, it has been a disappointing bullish run. Since, reaching the 1.6474 high the currency pair has been on a strong downside slide and hit the 1.6110 low so far. Intraday bias remains on the upside, as long as the 1.6004 minor support line is not broken.
Beat Wall Street: The Guide To Becoming A Pro Trader
GBP/USD is trading with upside momentum, as the U.K service PMI shows greater growth than expected. Intraday bias remains on the downside, as long as the 1.6440 minor resistance line is not broken. On the upside, if the 1.6440 minor resistance line is broken it will reverse the bearish bias to bullish momentum and target the 1.6545 major resistance line.
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Exploiting the power of trading Forex in the “when” zone is the best way of kicking out the speculative mindset. I’ve spent the the last three plus years, studying and tweaking this market for the ultimate Forex strategy. Knowing when a currency pair is going to take a swing or reversal, is the ultimate Forex trading method (period).