flash crash seen in gbpusd may trigger a mini capitulation on the bears 1833262016
Big spiked down to print a low of 1.1940 during thin liquidity conditions at 0700 am Singapore time before the opening of Japan and Singapore […]
Big spiked down to print a low of 1.1940 during thin liquidity conditions at 0700 am Singapore time before the opening of Japan and Singapore […]
Pivot (key support): 1.2440/2350
Resistances: 1.2480, 1.2780/2880
Next support: 1.1940
Technically, the GBP/USD has reached a potential short-term capitulation where a potential rebound may occur at this juncture. As long as the 1.2440/2350 pivotal support holds and a break above 1.2480, the GBP/USD may see a potential “relief rebound” towards the 1.2780/2880 key resistance.
However, a break below the 1.2350 is likely to reignite the bearish tone to see a decline back to retest today’s swing low area at 1.1940.
Charts are from eSignal
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