GBP/USD to Experience Volatility Today

24bulls

There is a resistance area around 1.6600 that has been tested recently and it appears as though the pair may be moving down to test the lower diagonal trend line support level.

The GBP/USD is going to experience an important trading day today as there are 4 major news announcements coming out that will impact this pair. The Dollar has had great pressure against it over the last few days and this be a short pullback but the news events of the day will give direction to this pair. There could be a great deal of volatility today with this many news announcements, so keep that in mind when making trading decisions for today.

The next resistance level after the 1.6600 area is 1.7051 on the daily chart so if the 1.6600 level gets passed that will be the next target. If the lower diagonal If the lower diagonal trendline gets passed to the downside the next support target is 1.6113

The daily chart there is an ascending triangle forming so when the pair is ready to break out of that triangle that could indicate a major price move ahead.

24bulls
24bulls.com is a company that offers a binary options platform and personal account management that was created with the specific goal of being the most customer-centric and technically advanced brokerage for both beginners and experienced traders.
24Bulls Review

Did you like what you read? Let us know what you think!

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

0 User comments

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

Read more
Add new comment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Sample