GBP/USD Broke Short-Term Down Channel, Facing 1.6460

GBP/USD Broke Short-Term Down Channel, Facing 1.6460

Indicators :

- RSI Period 14 with 30 level as oversold and 70 level as overbought.

- The 4X1, 2X1, 1X1, 1X2 and 1X4 Gann Angels.

- Gann’s Price&Timing Study.

- Simple Moving Average 50 Period (Blue), 100 Period (Red) and 200 Period (Green) on the chart.

The GBP/USD breaking above down channel today, upside moving very strong. Daily chart moving above 50SMA, Elliott wave structure is wave iv to wave v at target around 1.6460. Price&timing also show resistance at 1.6460 by 1×4 angel’s Gann from 2010.05.19′s low.

RSI above 40 level meant indicate in bullish mode as well.

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