GBPUSD H4 Forecasts & Analytics
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Below is GBPUSD H4 chart.
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GBPUSD, H4, 2016.06.29
MetaQuotes Software Corp., MetaTrader 5, Demo
After Brexit there was a large gap of 178 pips.
Now from the lowest price of 1.3119 upward trend is progressing to 1.3532.
It is also a large distance as many as 413 pips.
Then how does GBPUSD move?
I submit just simple resistence and support level.
Because price action is basically random.
Resistence price is 1.3561 which is the lowest point of gap.
There is located at 1.3399 which is the highest price of Chikou Span.