GBP/USD failed at resistance

2019-06-26 17:00    FBS

Trade ideas

SELL 1.2645; TP 1.2600; SL 1.2665

GBP/USD got once again rejected down from 1.2760. The 50-day MA is having a bearish bias and creating further resistance at 1.28. On H4, we see that support is provided b the 50-period MA at 1.2650. The decline below this level will confirm a temporary top and open the way down to 1.26. 

Resistance lines in the 1.2715/25 area. Only above these levels GBP/USD may once again try to retest this week’s highs. 

The pair will be affected on the intraday basis by British Inflation Report hearings and US durable goods orders.

GBP/USD failed at resistance Institution Opinions

GBP

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