Yesterday the pound was stable amid European situation. By the end of the day it had added 60 points.
It is holiday in the UK today, Good Friday. On Monday it will be holiday as well, Easter Monday.
From the technical point of view, the price has reached the point of interjection of balance line (red sliding) with the trendline on the daily chart (1.5222). On the H4 the resistance of Fibonacci extension holds the price. If the price consolidates above the level of 1.5222, then the bullish target in the range of 1.5286-1.5300 opens, these are the levels of Fibonacci on the H4 314%, which are built with the help of different branches. If the rate consolidates under the indicator lines on the H4 (1.5182), then the bearish target 1.5130 opens.
The material has been provided by InstaForex Company – www.instaforex.com
Yesterday the pound was stable amid European situation. By the end of the day it had added 60 points.
It is holiday in the UK today, Good Friday. On Monday it will be holiday as well, Easter Monday.
From the technical point of view, the price has reached the point of interjection of balance line (red sliding) with the trendline on the daily chart (1.5222). On the H4 the resistance of Fibonacci extension holds the price. If the price consolidates above the level of 1.5222, then the bullish target in the range of 1.5286-1.5300 opens, these are the levels of Fibonacci on the H4 314%, which are built with the help of different branches. If the rate consolidates under the indicator lines on the H4 (1.5182), then the bearish target 1.5130 opens.
The material has been provided by InstaForex Company – www.instaforex.com