GBPUSD 4 hr -
The pair is trying to force a rally challenging same zone it did few days back posting 1.2250 high before faltering and testing 1.2100 handle. The current bounce up is impressive specially on the back drop of Brexit doing the rounds.
With that said - expecting 1.226X as a challenge mark on the FOMC; that if taken out paves the way for rally to initially test 235X with bigger run extending towards 243X-4X eventually.
Alternatively a hold out to 226X-7X implies we in for move lower; initially testing 216X before making waves deeper and challenging 1.208X. A break under 1.208X would open the flood gates on the sell side on this pair..
Tahir Khan, or better known online as Stryker has been dealing in the global markets for 15 years. He as developed extensive knowledge in FX / Indices / Commodities and Futures. He is one of the most active members on some of the best Forex forums in the world.
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