GBP/USD has broken through a resistance line of a Channel Down and suggests a possible movement to 1.2319 within the next 2 days. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before placing a trade. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 6 days.
Did you know that our social media feeds are updated only 3x per day, and don’t look at short term movements?
If you open a live account with a broker that support Autochartist, you’ll get:Analysis as low as 15 minute data intervals Short term forecasts Risk and volatility information