Chris Capre’s Current Live Open Trades: CHFJPY, BIR, FXo EURJPY
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GBPUSD – Corrective PA Towards LT Key Support Zone (Weekly chart)
After topping out at 1.4280 which can be seen as a double top on the daily and 4hr chart price action charts, the GBPUSD seems to be slowly crawling lower in a corrective fashion towards the weekly support zone coming in between 1.3470 – 1.3620.
Most likely there are some MT and LT bulls looking at this zone as a potential trading opportunity. First resistance being the last swing high @ 1.4280. A weekly close below 1.3470 would most likely attract fresh bearish interest with next LT support waiting …... Keep reading