GBP/USD Technical Highlights:
- GBP/USD trading under the big 14000 level
- Consolidate to breakout or reverse off the level?
Cable is trading beneath the important 14000 level. It isnโt just a psychological level, it has been validated as being meaningful since March. The two scenarios Iโm watching are: consolidate for an eventual breakout above it or some type of reversal price action off the level to indicate that GBP/USD wants to head lower.
For the full details, check out the video above.
GBP/USD Daily Chart
Resources for Forex Traders
Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.
---Written by Paul Robinson, Market Analyst
You can follow Paul on Twitter at @PaulRobinsonFX
