By: Investija
Bears have extended their slide after a consolidation between 1.3373 and 1.3403 price levels. While negative trend remains active, look for further downswings. Selling options are on a table. At the moment bulls are sleeping, in order to wake up they need to initiate a recovery back to 1.3373 price barrier. However bears are more confident for now.
GBP/USD- M Pattern Was Formed
GBP/USD did extend its bouncing further between support at 1.5140 and resistance level at 1.5295. We can notice an M pattern formed at current situation, however bulls should be happy about the rebound towards resistance barrier. If support level would be broken, strong negative trend downside is expected. At the moment waiting action remains in order to confirm bulls activity.
