The Forex Pattern, Price & Time Report – GBP USD Mid-Session

The short-term charts indicate the GBP USD has reached a retracement zone at 1.6211 to 1.6114.

The short-term charts indicate the GBP USD has reached a retracement zone at 1.6211 to 1.6114.

This zone is based on the 1.5801 to 1.6621 range.  With the main trend up on both the daily and hourly charts, buyers may try to stop the intraday break at this price.

The daily chart will resume the uptrend on a trade through 1.6621.  The trend will turn down if the market breaks 1.5801.  

The 60-minute or hourly chart is down but the trend will change to up if 1.6507 fails to hold as resistance.

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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