Pound Tests 50-Day EMA and Big Figure Forex GBPUSD
However, if we break down below the 50 day EMA and the lows of the day on Monday, it is possible that we could go down to the 1.34 handle after that. The 1.34 handle underneath has seen both support and resistance there, so it makes sense that we have bounced from there. If we were to break through that level, then we will continue to go much lower, perhaps testing the lows again.
When you look at the chart, you can see that we are chopping around and forming a little bit of noisy behavior, but if we were to break out above the highs of the last couple of sessions, it is likely that the market could go looking towards 1.37 handle, and a break above those highs in that general vicinity could have opened up the possibility of a much bigger move. That being said,
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