Pull-back in up-trend | 23 October 2013
23 October 2013, GBP/USD
The trend higher persists; yes, we have had a pull-back today, however, formidable support from a multi-year triangle border line underpins the 1.6035 lows, preventing more down-side, and a bounce may push prices higher again, with a move then up to the next count at 1.63875. Confirmation would come from a break above the 1.62525 highs, or another buy signal – although this may require patience as we have just had a sell.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
