Steve Miley, MSTA
MarketChartist
GBPUSD downside extension bias
A roll back lower already to the minimal bounce range from ahead of minor resistance at 1.6600/05 to leave the bias still lower into this weekend early September.
The previous push lower through the April swing low at 1.6555 leaves bear pressures intact for late August.
We see downside risks to the chart/ retrace targets at 1.6460/55.
Overshoot threat is now down to the 1.6252 low for 2014 into early September.
WHAT CHANGES THIS?
- Above 1.6680 eases bear risks; through 1.6740 signals a neutral tone, only shifting positive above 1.6845.
4 Hour GBPUSD Chart
Daily GBPUSD Chart
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