GBPUSD wanders down to the lower extreme

Technical Analysis

Author: Greg Michalowski | gbpusd

Buyers stalling near the low neutral extreme now.

Buyers stalling near the low neutral extreme now.
The chart remains the same and at sometime, there should be a break (one way or the other), but the price action remains in between what I have called the Neutral area through the latest  Brexit votes. 

Traders who stuck a toe in the water at the 1.3286 extreme saw the price move lower and now traders who are sticking a toe in the water near the 50% level have the chance for a bounce too. 

Traders who were lucky to sell above and want to play for a break of the floor below, have a "free trade" that if the floor is broken, can be parlayed into a move to 1.31746 or perhaps to the 100 and 200 hour MA s if lucky at 1.3142.  
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose