Nov 16 2015: BEARISH WEEKLY GBPUSD: Last week produced a inside bar
(Analysis Based on WEEKLY chart)
Observations
1. Last week was bullish and closed above the weekly support at 1.51xxx
2. Price respecting the top of the down channel
3. Last week produced a bullish candle which completed as a inside bar to the previous week.
4. The dominant price action is still bearish
NOTE: Wait for price action to confirm the importance of this level.
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(Analysis Based on WEEKLY chart)
Observations
1. Last week was bullish and closed above the weekly support at 1.51xxx
2. Price respecting the top of the down channel
3. Last week produced a bullish candle which completed as a inside bar to the previous week.
4. The dominant price action is still bearish
NOTE: Wait for price action to confirm the importance of this level.
If you find this information useful. Please hit the LIKE button.
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