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Tuesday, February 2, 2016
The intense declines in early 2016 are finally showing signs of stalling out, with the market in desperate need of a healthy correction. The recent reversal off a near 7-year low at 1.4080 has finally opened the door for a long overdue bounce that now has room to extend back to the 1.4600-1.4800 area before the market even considers a lower top and meaningful bearish resumption. Monday’s daily close above 1.4400 strengthens this outlook and …
GBPUSD– technical analysis
The intense declines in early 2016 are finally showing signs of stalling out, with the market in desperate need of a healthy correction. The recent reversal off a near 7-year low at 1.4080 has finally opened the door for a long overdue bounce that now has room to extend back to the 1.4600-1.4800 area before the market even considers a lower top and meaningful bearish resumption. Monday’s daily close above 1.4400 strengthens this outlook and …