AutoChartist Report Forex (Eur) 15.10.2018
The GBP/USD pair fell from its resistance on a 30 minute time frame as predicted. This resistance zone was given in our analysis on 16th of August. The pair has also broken its upward trend line which confirms that the upward trend has lost its momentum and this trend line may act as a resistance line. However, the price is trading above the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirms that the bulls perhaps are stepping back in and taking the control.
The RSI is trading inline with the price action which confirms that the bias could be still to the upside.
Important Zones
Resistance Zone
1.5880-1.5834 Major
1.5749- 1.5717 Minor
Support Zone
1.5441-1.5417 Minor
1.5241-1.5205 Major
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