GBP/USD Technicals: Strong resistance at 1.3058

Daily chart shows inverse head and shoulder with a neckline hurdle at 1.3058. Potential three white soldiers pattern at critical resistance of 1.30. Bullish 50-MA & 200-MA crossover on 1-hour suggests pull back likely before further upside unfolds…Nice rising trend line has been established on the 1-hour chart, likely to work as good supp around 1.2950 levels.

Key Tech Levels – Spot CMP 1.2975

1.2984 (July 6 high)

1.3058 (inverse head and shoulders neckline) – 1.3059 (Aug 30, 2016 low)

1.3121 (Sep 22, 2016 high)

1.2964 (1-hr 5-MA)

1.2950 (rising trend line supp on 1-hr)

1.2926 (23.6% Fibo retracement of 1.2589-1.3031) – 1.2921 (1-hr 50-MA)

1.2911 (1-hr 200-MA)

1.2872 (50-DMA)

1-hr chart

GBPUSD H1 (07-14-2017 1720).png

Daily chart

GBPUSD D1 (07-14-2017 1721).png


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s