Monday 5 November 2018

GBPUSD: Fighting for support at cloud chart level!

GBPUSD: Fighting for support at cloud chart level at bottom end of the cloud: 1.2979!

After rebounding from and old low support level of 1.2703 we now fighting for support at bottom end of the cloud.

On the weekly chart there is a major support zone at 1.2815! Price action is below the cloud , and this is bearish overall. But there is the medium term trade for a rally back up to the bottom of the cloud chart resistance zone!

We back above the top end of the 4 hour cloud chart. This is good news if you long GBPUSD.
Top end of the cloud on 4H is key rebound zones in the new uptrend on a 4H chart.

Key levels to watch on GBPUSD 4 hour chart are 1.29/1.2942 cloud chart support zones! Can see support come in here, and the a move higher.


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