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Forex Technical Analysis and Forecast GBP- USD for the week of December 12 to 16
by admin ·
T he last week, we wrote “The daily macd could turn upward if the parity was ironed-in above 5780, but it did not take. However, even if the daily macd is still bearish, it seems that we remain in consolidation between 5420 and 5780 taking into au- above 5370 “and we have arranged between 5580 and 5730 to finish at 5666 on Friday night.
The daily MACD is in a consolidation and as the euro, it will have to wait to pass a range of points between 5720/80 and 5550 to find a new trend.
Although the daily MACD is bullish, it is quite fragile and a return in 5580/70 could be the trigger down for a return of 1.55 and 5420.
Instead a passage above 5720/80 could have us return to 1.60.
(more…)
