GBP/USD is heading towards the resistance line of a Triangle and could reach this point within the next 6 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
Related Posts
We expect USDCAD to trend downwards with a 75% chance.
Based on the last 12 Inflation Rate YoY Prel events in Italy, we may expect USDCAD to trend…
We expect AUDUSD to trend downwards with a 80% chance.
Based on past France Inflation Rate YoY Prel news events there is a 80% chance of AUDUSD trending…
USD/CAD is currently testing a level of 1.3545. Will the breakout continue or will things reverse?
USD/CAD is once again retesting a key horizontal support level at 1.3545. It has tested this level 6…