GBP USD Failed to Break Resistance – Forex Trading Easy
This pair already rejected around resistance area today. This resistance area has been tested two times in January and February. On Monday’s daily bar, price reached all the way up to 1.4952 before exhausting its bullish momentum and retreating. Any further downside on this retreat should find support around the bottom at 11/3 low. On the other hand, a consecutive breakout above the current resistance could eventually target further resistance around the level of the 8/1 high. Momentum on daily all pointing down but Momentum(14) and momentum(10) is above the zero line that means maybe this pair want to rest first before continue further up.
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