Is GBPUSD hesitating or Preparing something big?
Volatility has been high lately on the GBPUSD, leading to a persistence of the bearish market with continuous new lows. The parity is currently nestling around the edge of its lower Bollinger Band. The previous doji is a neutral one suggesting a continuous hesitation on the market. If the GBPUSD break through yesterday's high, which is 1.53248, it may cancel any further slide, at least on the very short term. However if it breaks the 1.52630 level, which is yesterday's low it will have 1.5222 as an aim.
The daily Pivot Point is around 1.5290, and its 3 days PP is around 1.538. The parity opened very close to its daily PP, suggesting a neutral trend for today.
The Parity's resistance levels are around 1.532, 1.539 and 1.5503. Its support levels are around 1.526, 1.5222 and 1.5153.
I think that, unless it breaks the 1.53248 level, the parity would be preparing for a continuous slide towards 1.5153 with 1.524 as my first objective. If the parity closes today above 1.53248 I would consider 1.539 as an objective.
The daily Pivot Point is around 1.5290, and its 3 days PP is around 1.538. The parity opened very close to its daily PP, suggesting a neutral trend for today.
The Parity's resistance levels are around 1.532, 1.539 and 1.5503. Its support levels are around 1.526, 1.5222 and 1.5153.
I think that, unless it breaks the 1.53248 level, the parity would be preparing for a continuous slide towards 1.5153 with 1.524 as my first objective. If the parity closes today above 1.53248 I would consider 1.539 as an objective.
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