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The Pound Could Renew its Maximum

On the whole I’m satisfied with the pound’s movement. A renewal of the maximum in the first half of the day and a fall in the second half. When it fell, it didn’t reach the target. The fall stopped at the 45th degree.

Now the GBPUSD pair is trading around 1.5770. On the back of the bull trend on the hourly and the correctional movement on the daily, there’s the probability that it will renew its maximum. For Friday I’m limiting myself to a growth in the rate to 1.5809/10 and then I’m looking at a fall to 67 degrees, 1.5718. The LB line will be the key support. Its break will indicate power changing hands.

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Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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