The GBP/USD pair has failed to break its downward line on a 30 minute time frame. The price is trading below the 50 day (shown in green) and 100day (shown in yellow) moving averages which means that the bears are in strong control. The RSI is also trading in line with the price action which means that the bias could be to the downside.
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Important Levels
Resistance Zones
1.6039-1.6007 Major
1.5892-1.5848 Major
1.5809-1.5774 Minor
1.5681-1.5645 Minor
Support Zone
1.5524-1.5489 Minor
1.5211-1.5188 Major
1.5034-1.5005 Major
DISCLOSURE & DISCLAIMER:
The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam