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Forex Trade Signals and Setups Nov. 8th
GBPUSD – Approaching Critical Resistance
Up 15 of the last 24 days, the GBPUSD is approaching critical resistance at the 1.6150 level. This resistance are was a key role-reversal level which was support back on Aug. 11th and resistance on Oct. 28th so obviously a key level for the market. Bears can look at possible shorts here while bulls will want to see a breakout-retest of this level to activate new longs. Another option for bulls is to wait for a gentle pullback to the evolving or dynamic support at the 20ema which has held price since the 12th of October.
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