GBPUSD tests low closing level since June 10th
Since June 10th the low price on the above candlestick chart comes in at the 1.6187 level. With the price at 1.6333 there is a ways to go before a test of the level occurs.
Note, however that although true, each time the price has moved lower since June 10th, the market has been able to bounce off the lows and close much higher on the day. In fact the lowest closing level has been all the way up at 1.6317. Conversely, the highest close is at 1.6589, well below the highs reached at 1.6620, 1.6661 and 1.6743 from the candlestick chart.
So from a traders perspective, when looking for market clues, a close below the 1.6317 level is somewhat significant. In addition, the level may also provide support as well. The low just reached in the GBPUSD - albeit in quiet trading - extended to 1.6309. The market was only able to stay below the level for a few minutes. Earlier in the day a move below was likewise rejected.
Keep an eye on the level and a close below may just be a significant clue.
Loading ...
No Responses to “GBPUSD tests low closing level since June 10th”
Add a comment