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A possible reversal

Profile photo of Nuno Lampreia – Forex.Today by Nuno Lampreia – Forex.Today
2015-07-16_00-01-24gbpusd

2015-07-16_00-01-24gbpusd

This chart is posted on the asean open for the gbpusd.

Most of my comments are in fact referred to euro charts. But this chart could go south during the asean markets and that is why I like to share this comment now.

Price retraced to the 55MA that was in control and that took price back into the resistance zone. It did not manage to break it and provided us with a lower high.

This might be the first fact pointing to a possible reversal. If the grey trend line holds then price might go down with the next Stochastic cycle.

 

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