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.