GBPUSD Review:
Yesterday the pair tested down to the all-day low 1.5911 in Asia. At the beginning of Europe pulled back largely. And long positions were exceptionally strong. The pair broke 1.6000 and yesterday’s high. In the morning of New York the pair pulled up to 1.6081 and later retraced substantially. Now the trading price is at 1.5980.

Technical analysis:
The daily K line tells us yesterday the pair appeared a hammer-like real body with a long upper shade, which said the long positions had the up momentum. But the short was still strong. Especially for the traders 1.5920 levels, the previous 3 days low price, should be paid more attention to. Consequently the level is the importance support of the aftermarket. And the forex chart of 4-h tells, BOLL is getting narrower and narrower. Pay attention to the break at 1.6030. If the pair stands here firmly, the price may continue to move up. The 1-hour chart tells us; around the recovered level of Fib 23.6% has the sign of stability. RSI has already pulled up the strong zone. All in all now the price is towards short. Attention to the strong resistance level-1.6030. Considering yesterday and the day before appeared two hammer-like lines, and the lowest price is parallel, we should pay more attention to the possible uptrend momentum triggered by the K line combination.by Ikon group ikonfx.com
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