GBP has moved higher this week, bouncing off the Weekly 50% level and Monthly balance point, and continuing higher.
The important part of this price action is the reversal and break of the March 50% level and the Weekly highs (another Weekly breakout) , and trading above the Yearly balance point.
All it needs now is to move back above the Quarterly50% level.....2.0184
Expectation that the confirming move was the break of the 3-day range, and expectation that price will move UP towards Friday's highs.....Weekly .618 range is support... 2.0045
Same Weekly support range last week and first breakout @ 1.97980
Posts
