GBP/USD - Potential break coming 1.57
Looking on the daily charts we could see a potential break of 1.57 this week.
Price has been making higher lows and higher highs since May this year. We can see strong support at 1.55. A doji has formed at 1.57. Previous attempts on the 1.57 level on Tuesday, Thursday and Friday have failed to push price lower and it would appear shorts are running out of steam.
We may see another pull back to 1.56 before a final push to break the 1.57 level. 1st target 1.59.
Price has been making higher lows and higher highs since May this year. We can see strong support at 1.55. A doji has formed at 1.57. Previous attempts on the 1.57 level on Tuesday, Thursday and Friday have failed to push price lower and it would appear shorts are running out of steam.
We may see another pull back to 1.56 before a final push to break the 1.57 level. 1st target 1.59.