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25th August 2019

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  • 25th August 2019

    GBP/USD - Taking a look at GBP/USD we can see on the H1 that the moving averages. the 200 is below the 100 implying bullish movement on the H1 like we've seen over the last couple of market open days. Currently there is no resistance on GBP/USD generated so we might get the current level area become a resistance or find a higher level to use above.

    On H4 we can see the 200 is still above the 100 implying bearish on the H4. Can see there is a resistance area higher up on the H4 chart. These are generated from a buyers from on H1. We can see that the level 1.22013 was used for H4 support.

    On daily we can see that we are in a uptrend but with a resistance zone just above it like we can see on the H4 chart. Click image for larger version

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  • #2
    EUR/USD - As we can see with EU we've created a resistance on the H1 before the Friday Close. This is also backed by a resistance on the H4 that it got too.

    Taking a look on the H4 chart we can see how important this resistance area is. It was used as resistance before and then became support before becoming resistance one again. If this H4 resistance manages to hold we could see a re-test of the bottom H4 support.

    If we look at daily we can see how much pressure this resistance can cause.

    We can also see that on all 3 timeframes the 200 MA is still above the 100ma implying a bearish sentiment. We've also got the 1.11030 level acting as H1 resistance that could become new support if it manages to hold. The next resistance area can be seen on H4 at the 1.11719 area.

    Click image for larger version

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