GBPUSD trading back toward mid range

Technical Analysis

Author: Greg Michalowski | gbpusd

Midpoint of day at 1.2736

The GBPUSD has chopped highed and lower today. The price reached below the 1.2727 level but stalled ahead of the 50% at 1.27037 (low for the day reached 1.2707).  We trade near mid-range at the 1.2736 level.  The price is also near unchanged on the day.

Midpoint of day at 1.2736
The ability to hold the 50% of the last run higher, gives the buyers more control, but the 1.27418-47 needs to be broken followed by the June highs at 1.2757 and 1.27624.  

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose