20-Feb-2014, GMT 12:30
GBP/USD – the real star of last week
All daily candles were bullish! A fast 500 pip move brought Cable to the highest level since May of 2011. Now we can see a correction. Yesterday after news, the price broke first support and bounced over. Today there is another attack on this level. Traders can look for long signals.
38,2% Fibonacci retracement if exactly on second support! That will be muchstronger support if price fell down there. But with such a rapid trend, we could have seen the minimum for today so traders should be alert.
Click to enlarge!
—
This analysis has been published thanks to our partner FX SALT. You can find it also on FX SALT Facebook profile.
Create account at FX SALT with Comparic and receive 5% cashback.
