Forecast for tomorrow - levels for the GBP / USDGBP / USD: Multidirectional movement within a narrow level range. A pair trading levels within a narrow range between the support 1.5329 / 1.4565 and resistance levels of 1.5689 / 1.5929. Key levels for the pair are now as follows:
- Key support level 1.4565, which is far below the Ichimoku cloud at the primary downtrend on the chart; If the price breaks this level, we can see the breakdown on a downward trend, and is quite a long history with a multi-directional trend for the pair will be safely completed a long period of time.
- Key resistance level 1.5929, which is far above the cloud Ichimoku in primary upward trend; If the price breaks this level from the bottom up, we see the global spread of this pair to a primary uptrend.
There are intermediate levels of the path to the key rates - a support level 1.5329 and the resistance level
1.5689. This means that the price should break through first one of these intermediate levels on his way to the key for the realization of one of the scenarios described above.
That is why we need to monitor and intermediate support / resistance levels, too, since it affects not only our trade, but also gives us information about where and when the price will move for the pair in the future.
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