GBPUSD is the surprise mover in thin post-Xmas trading, trying to reach the 60MA in the daily chart below and touch the 1.3500 resistance target as well.
But will it complete the move?
In the H4 chart, sterling is already well above its 60MA. Price action is currently stalling below 1.3570 dollars.
In the H1 chart, however, the pound has actually completed its move, and will need to clear the 1.3460 resistance in order to start a new one.
The targeted support and resistance levels are in the latest colored boxes on the respective charts.
Price action would have to cross their respective colored zones to confirm any meaningful change or extension in trend.
As always, all prior support and resistance lines were still respected and will likely continue to be.
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All displayed chart support/resistance lines are either historical levels or actual confirmed order book levels currently being traded by major players based on available market intelligence.
Disclaimer: This content is for educational purposes only. It does not constitute trading or investment advice. Past performance does not indicate future results. Do not invest more than you can afford to lose.
