The Forex Pattern, Price & Time Report – GBP USD – Midsession

The GBP USD is trading lower at the mid-session.  The trend remains upon the daily chart with a pair of main tops at 1.6621 and 1.6663offering resistance.  The Main Bottom at 1.5801 is the support andchange in trend level.

The GBP USD is trading lower at the mid-session.  The trend remains up on the daily chart with a pair of main tops at 1.6621 and 1.6663 offering resistance.  The Main Bottom at 1.5801 is the support and change in trend level.

The short-term range of 1.5801 to 1.6621 has created a retracement zone at 1.6211 to 1.6114.  This zone provided support at 1.6187 on June 18th when this pair formed a minor bottom.  

The hourly chart is in a down trend.  1.6513 is the main top. Based on the hourly range of 1.6187 to 1.6561, minor support may develop inside of a retracement zone at 1.6374 to 1.6330.