GBP/USD Mid-Term Analysis Target:1.54580
I see a good chance to sell GBP/USD right now.
The resons as following:
1 / The price broke the Rising Channel on June 23 .
2 / The price broke All the Moving Average Lines of 5/14/30/60 on June 23 too, and has already formed a great Death Cross.
Attention: The price made a higher low point on June 2 and a new higher high point on June 18 in DAY Chart.
Anyway, I'm inclined to sell it when pull back to point of 60days MA line , about 1.57900.
First Target : The former Low point as well as the 61.8% retracement, that is 1.54580.
The resons as following:
1 / The price broke the Rising Channel on June 23 .
2 / The price broke All the Moving Average Lines of 5/14/30/60 on June 23 too, and has already formed a great Death Cross.
Attention: The price made a higher low point on June 2 and a new higher high point on June 18 in DAY Chart.
Anyway, I'm inclined to sell it when pull back to point of 60days MA line , about 1.57900.
First Target : The former Low point as well as the 61.8% retracement, that is 1.54580.
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