After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?
GBP/USD failed at resistance
2019-11-11 • Updated
SELL 1.2645; TP 1.2600; SL 1.2665
GBP/USD got once again rejected down from 1.2760. The 50-day MA is having a bearish bias and creating further resistance at 1.28. On H4, we see that support is provided b the 50-period MA at 1.2650. The decline below this level will confirm a temporary top and open the way down to 1.26.
Resistance lines in the 1.2715/25 area. Only above these levels GBP/USD may once again try to retest this week’s highs.
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