I am looking at the GBPUSD on a daily chart. It looks a lot better after holding 1.30 support levels and then the breakout.
I would like to see a nice break above 1.32 resistance and go from there to really determine if the pound is really ready to turn thing around. Next would be 1.34.
We can look back in the past and see levels of support are now resistance and also the lower highs and lower lows confirming the downtrend.
I do not trade forex much these days but I still look at the major fx pairs daily just to see what's going on.
Edit. In my pink bubble I wrote .132 but of course it is 1.32
I would like to see a nice break above 1.32 resistance and go from there to really determine if the pound is really ready to turn thing around. Next would be 1.34.
We can look back in the past and see levels of support are now resistance and also the lower highs and lower lows confirming the downtrend.
I do not trade forex much these days but I still look at the major fx pairs daily just to see what's going on.
Edit. In my pink bubble I wrote .132 but of course it is 1.32
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