GBPUSD Daily View September 19th

GBPUSD has slowed down this month, compared to August, and traded top to bottom in a 600 point range; it retraced from the September 11th low at 1.7440 to the 61.8 Fibonacci Line of the 1.8800 -1.7440 push down. Forming a doji like candle on the daily charts on Thursday, shows signs of bearish sentiment and has a first target at the support offered by the trendline connecting Sept 11th and 16th lows.

GBPUSD has slowed down this month, compared to August, and traded top to bottom in a 600 point range; it retraced from the September 11th low at 1.7440 to the 61.8 Fibonacci Line of the 1.8800 -1.7440 push down. Forming a doji like candle on the daily charts on Thursday, shows signs of bearish sentiment and has a first target at the support offered by the trendline connecting Sept 11th and 16th lows, with tight stops placed above this weeks high we expect the pair to push lower, breaking the above mentioned support and aiming at the 1.7550/1.7600 area.

 

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