lundi 2 novembre 2009
GBPUSD Daily 30-10-09
Posted on 12:44 by Kyuubi
First of all we were in a down trend at the beginning of the month until the 12-10 where we saw a Spring : Price came down to the support line in very low volume ( no Supply ) and, the very next day, price came even lower during the trading session to finally reverse to close up above the high of the 12-10. This was a good sign of strengh confirmed on the 15-10 with a volume absorbing supply bar.
On contact with the resistance at 1.6685 we saw lot of supply on the 23-10 with a big sell-off of nearly 400 pips. But this move was not confirm the next day which closed up on medium volume which make me think that probably there was professional buying during the 23-10.
I think we should test again the level at 1.6685 next week, and probably 1.7028 later.
So long bias next month for GBPUSD.
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