GBP/USD: Price is retracing inside the Weekly Down AB
January 20, 2021 01:19 PM
BULLISH
Daily Trading Range:
GBP/USD:
Price is retracing inside the Weekly Down AB Boundary suggesting that the Direction of Highest Probability is Bullish. There is also an UP ABCD swing on the Daily chart with The Extension at 1.3845 about +412 pips away. Since the USDOLLAR INDEX is oversold I shall pass on this pair
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Daily Support and Resistance
Resistance 3: | 1.3250 |
Resistance 2: | 1.3500 |
Resistance 1: | 1.4000 |
Current Price | 1.3641 |
Support 1: | 1.2900 |
Support 2: | 1.2500 |
Support 3: | 1.2000 |
