Technical Analysis – GBPUSD within a bullish rectangle but risks remain
After the rebound off 35-year lows, GBPUSD has been trading quietly this week, congested within a narrow range of 1.2484 and 1.2300, where the former is the 50% Fibonacci of the 1.3513-1.1409 downleg. Technically, a sideways move following a rally is an indication that the pair is taking a breather before continuing higher. Yet, on the four-hour chart, the […]
Technical Analysis – GBPUSD within a bullish rectangle but risks remain
After the rebound off 35-year lows, GBPUSD has been trading quietly this week, congested within a narrow range of 1.2484 and 1.2300, where the former is the 50% Fibonacci of the 1.3513-1.1409 downleg. Technically, a sideways move following a rally is an indication that the pair is taking a breather before continuing higher. Yet, on the four-hour chart, the […]
