Hi Traders!
GBPUSD looks to have formed a range zone as it has tested the NFP high at 1.27712 and has failed to break above the high.
Here are the details:
After the NFP release, there was a strong bull rally to the 1.27712 level, but it was quickly rejected, as you can see with the large upside price wick. The market recently tested this level, and the resistance is still there.
We are looking for the market to pullback towards areas around 1.26734, and below that, we have range zone support at 1.26116.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance: 1.27712
Support: 1.26116
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
GBPUSD looks to have formed a range zone as it has tested the NFP high at 1.27712 and has failed to break above the high.
Here are the details:
After the NFP release, there was a strong bull rally to the 1.27712 level, but it was quickly rejected, as you can see with the large upside price wick. The market recently tested this level, and the resistance is still there.
We are looking for the market to pullback towards areas around 1.26734, and below that, we have range zone support at 1.26116.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance: 1.27712
Support: 1.26116
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX