GBP/USD created an inside bar candlestick on Monday, neutralizing the immediate bullish setup. A close above 1.2650 is needed to revive the bullish setup. GBP/USD created an inside bar candlestick pattern on Monday, making Tuesday’s GMT close pivotal. An inside bar occurs when the daily high and low falls within the preceding day’s trading range. On Monday, the pair hit a high and low of 1.2650 and 1.2516, respectively, and the trading range fell well within Friday’s high and low of 1.2707 and 1.2406. Monday’s inside bar has neutralized the bullish view put forward by Friday’s upside break of the trendline connecting March 13 and May 6 highs. The outlook would again turn bullish if the pair closes Tuesday above Monday’s inside bar high of 1.2650. That would imply a continuation of the rally from recent lows near 1.22. On the way higher, the 200-day moving average at 1.2710 may prove a tough nut to crack. The average capped upside on Friday. The outlook would turn bearish if the pair ends Tuesday below 1.2516 (Monday’s low). As of writing, the pair is trading at 1.2614, representing marginal gains on the day. Daily chart Trend: Neutral Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ripple price analysis: XRP/USD treading in the confines of a rising channel FX Street 4 years GBP/USD created an inside bar candlestick on Monday, neutralizing the immediate bullish setup. A close above 1.2650 is needed to revive the bullish setup. GBP/USD created an inside bar candlestick pattern on Monday, making Tuesday's GMT close pivotal. An inside bar occurs when the daily high and low falls within the preceding day's trading range. On Monday, the pair hit a high and low of 1.2650 and 1.2516, respectively, and the trading range fell well within Friday's high and low of 1.2707 and 1.2406. Monday's inside bar has neutralized the bullish view put forward by Friday's upside break… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
