GBPUSD holds bottom 1.2675. Bar “A” & “B” both bullish bars controlled demand in the market. These bars are known as coil bars mean price building energy in such bar for bullish momentum. Bar “C” key reversal bar made a new low and closed off the high. Bar “D” widespread up bar broker resistance 1.3070 with increasing volume. 1.2980-40 demand zone area for long but keep in mind a huge even of US Election coming next week so be cautious to short USD. Professionals covering their short positions in GBP, 10k shorts have been reduced since last four weeks. long change increased 6% for the last four weeks.s
GPBUSD daily analysis, GBPUSD daily forecast, GBPUSD long analysis.
Supports: 1.2990, next level if breaks 1.2940 and 1.2860 should hold for rising prices, if breaks then pair may get neutral.
Resistances: 1.3175, next upside level 1.3245 in case of break then next long term resistance 1.3480