GBP USD Technical Forex Analysis for Forex Traders

Rate tests support in NY at 1.3950 area; shorts are gaining confidence for a break under 1.4000.  Rally to clear close in stops above 1.4300 and a close over the handle suggest more upside and a short-squeeze; today’s break to lows likely put’s that scenario on hold.

Two-way action between existing S/R the past 72 hours likely to continue. Stops likely building on both sides increasing the chance for whipsaw. Traders report stops in-range adding for two-way action.

Long-term tech resistance now at 1.5000 area likely to cap near term but stops are building above and the 1.5000 handle is a big psychological number. 23 year lows are very likely to hold on any break with initial support now at 1.3900 in play.

Two-way action continues suggesting that shorts are aggressively adding and longs are trying to find a bottom.   


Resistance 3:  1.4380
Resistance 2:  1.4300/10
Resistance 1:  1.4250
Latest New York: 1.4052
Support 1:  1.4020/30
Support 2:  1.3950

Data due Tuesday: All times EASTERN (-5 GMT)

4:30am GBP Construction PMI
7:01pm GBP Nationwide Consumer Confidence

GBP USD Technical Forex Analysis for Forex Traders

Forex Analysis by Jason Alan Jankovsky at For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check

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