Forex Trading Signals – Jun 6, 2017: GBPUSD Rejected by Support at 1.2940

The GBPUSD struggled to overcome former channel support once again during yesterday’s session.

This is an upward sloping pattern that we discussed over the weekend and one that also capped last Wednesday’s advance.

In fact, yesterday’s high was 1.2940 which is the same level I pointed out just before Monday’s open. Whether or not this area continues to reject advances is yet to be seen, however.

Unlike channels that form against the trend, upward and downward sloping flags often represent exhaustion.

Notice how the channel in the chart below developed in the same direction as the rally, which hints at exhaustion from buyers.

Daily Price Action
43836 Laburnum Sq Ashburn,
Virginia 20147
United States
(240) 778-3679

We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile: you can rely on us daily for the latest and relevant free weekly Pool draws, latest pool bankers for the weekend.

40cbm LPG Tank for sale contact 08066633677

Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at

Follow us on twitter @newsbeatportal

learn how to make profit from your losing bets on nairabet, bet9ja, merrybet, surebet. 07030635051
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535

Konga Verified Blogger

Leave a Reply