British pound continues to fall, but…

gbp-usd

Can the 61.8 fibo return stop the pound weakening for a while? This is important technical level for the GBP/USD pair and if this support breaks, pound could continue to fall furder toward 1.5000/1.4800! This is not only 61.8 fibo, this level was previous strong weekly reststnace level from begining of July 2013, just before the July 2013. –> June 2014. pound growth. If the pound find buyers here, 1.5940/50 and 1.6000 will be the first test for the bulls. This could be the interesting triangle here at this pair. How do you see this?

Weekly GBP/USD graph looks scary!

gbp-usd 13.11. weekly

As I already mentioned, if 1.5700/30 brake, this could be a very strong resistance area for the pair, after wich furder decline toward 1.48/1.50 is very possible.

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5 comments

  • Like I said, brake is possiible,and that I wouldn’t enter long before rebound and confirmation. But, this could be a weekly fail. If weekly close bellow this support zone, that could become resitance for sure.

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  • odlicno ,,,vec par sati cekam za ulaz long , ovo ce bit dobro odbijanje

    Liked by 1 person

    • Za sada podrška još uvijek drži, ali je u opasnoj zoni trenutno sa dnevnim. Nadam se da će novi dan otvoriti preko 1.5700 i to bi mogao biti znak za preokret. No, weekly je problem jer može napraviti fail brake da počisti stopove ispod.

      For now support still holds, but this is danger zone for longs. New daily should open above 1.5700 and that could be a positive sign for longs, but weekly is a problem, because that could be a fail, so the pair could go lowwer bellow this support to clean up the stops.

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  • 1.5730 drži za sada dobro već 3 sata, misliš da je ovo prilika za long?

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    • Veliki je pritisak na ovu podršku kao što se vidi u zadnja 3 sata. Ja inače ne ulazim u long u takvim situacijama dok se stanje ne preokrene i dok podrška ne izdrži sve napade.

      There is a big pressure on the support level and I usualy dont open my longs in this kind of situations, until rebound and confirmation.

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