GBP/USD: 4-hour

Published 11/13/2011, 09:09 PM
Updated 07/09/2023, 06:31 AM
GBP/USD
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USD/MAD
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Gotta bounce yo! Last week, the 1.5900 major psychological handle held like a boss when GBP/USD bounced after hitting that support level. GBP/USD made its way close to the top of the range on the 4-hour chart and is currently approaching the 1.6100 mark. Stochastic is already in the overbought zone, suggesting that pound bulls could use a break. Keep a close eye on the 1.6130-1.6150 region since GBP/USD's climb could end right there, but make sure you refer to the School of Pipsology's Japanese candlesticks cheat sheet before taking any short trades!


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