GBP/USD – Forms Double Bottom + Pin Bar Rejection
Second Skies | Sep 10, 2014 03:10AM ET
GBPUSD – Double Bottom + Pin Bar, Likely Pullback Coming
After making marginal new lows yesterday, the GBPUSD formed a key resistance is 1.6160 short term. If the cable can continue to build higher lows above 1.6080/60, then expect a challenge of 1.6160 and then 1.6200 short term. After clearing 1.6200 and 1.6225, then the next resistance doesn’t come till about 1.6287, so some potential upside for counter-trend traders.
If 1.6060 folds, then the ‘big figure‘ at 1.6000 will be under attack.
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