AutoChartist Report Forex (Eur) 15.10.2018
Focus: the resistance at 1.6297 remain in focus as a major obstacle and the pair needs to break this resistance to confirm further upward trend. The immediate support is near the 1.6085 zone.
The GBP/USD has broken its upward channel on a 30 minute time frame. The lower line of this channel may act as a resistance if the price tries to rally back up. The price is trading near the 50 day (shown) and the 100 day (shown in yellow) moving averages which means that there is a constant tug war taking place between the bulls and the bears.
The RSI is trading in line with the price action which means that the bias remains to the upside.
Important Zones
Resistance Zone
1.6349-1.6297 Major
1.6455-1.6421 Major
Support Zone
1.6085-1.6056 Minor
1.5799-1.5769 Major
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