Technical Analysis

GBPUSDs 10 day up streak broken. Pair gives up gains.

Closes lower for the first time since July 16

All good streaks come to an end and the GBPUSD’s 10 day streak of higher closes came to an end today.   The pair last close lower back on July 16. On July 17 the low price reached 1.2511, but closed higher on the day. This week the low was reached on Monday at 1.2772. The high price extended to 1.31694 earlier in the New York session.

In the New York afternoon session, the price fell below a broken trend line at around 1.31133 level, and made new session lows in the last hour of trading at 1.3069. Yesterday’s close was around 1.3094. It’s not a disaster but it’s something new.

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