Forexopia   TrendWaiter   GotCandlesticks   ForexTags   ForexBookstar   FXTube
   

Posts Tagged ‘support & resistance’

Oct 1st - Gbp/usd - 4hr chart

ok - it drifted below 7950 my yesterday’s - if bearish prediction - and seems to have hit a temporary support at 7750 - but with its new-high at 7875 unbroken - the pair could go lower.
Next possible Path - Bullish

Will take out the new-high of 7875
will meet resistance at 7950 - if broken - can [...]

My first gbp/usd post

Ok - here’s the gbp/usd 4-hour chart.  here are my observations:

The trend is definitely bearish
MA crossover of 5/20 - also called donchian (used mostly in daily charts - I used it here) indicated downside
Resistance at 1.8300 (last week’s low)
A possible new resistance from the new high at 1.8200
A double-bottom has been hit at 1.7950

Next possible [...]