{"id":107002,"date":"2017-06-07T06:05:48","date_gmt":"2017-06-07T10:05:48","guid":{"rendered":"http:\/\/countingpips.com\/?p=107002"},"modified":"2017-06-07T06:05:48","modified_gmt":"2017-06-07T10:05:48","slug":"gbpusds-bounce-extended-to-1-2949","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/06\/gbpusds-bounce-extended-to-1-2949\/","title":{"rendered":"GBPUSD\u2019s bounce extended to 1.2949"},"content":{"rendered":"<div id=\"inves-3659765093\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 7, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><div class=\"entry-content\">\n<p>GBPUSD\u2019s bounce from 1.2769 extended to as high as 1.2949. However, the bounce would possibly be correction of the downtrend from 1.3047. As long as the pair is below the <a href=\"http:\/\/www.forexcycle.com\/trading-strategy\/111374-how-to-use-trend-lines-to-make-successful-forex-transactions-every-time.html\">ascending trend line<\/a> on its 4-hour chart, another fall is possible after the correction and next target would be at around 1.2600. Near term support is at 1.2845, a breakdown below this level could take price to the next support level at 1.2769, below this level will confirm that the downtrend has resumed.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-111867\" src=\"http:\/\/www.forexcycle.com\/wp-content\/uploads\/2017\/20170607_GBPUSD_1.png\" alt=\"GBPUSD 4-hour chart\" width=\"500\" height=\"300\" \/><\/p>\n<\/div>\n<p>By <a href=\"http:\/\/ForexCycle.com\" target=\"_blank\" rel=\"noopener noreferrer\">ForexCycle.com<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GBPUSD\u2019s bounce from 1.2769 extended to as high as 1.2949. However, the bounce would possibly be correction of the downtrend from 1.3047. As long as the pair is below the ascending trend line on its 4-hour chart, another fall is possible after the correction and next target would be at around 1.2600. Near term support [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-107002","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=107002"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107002\/revisions"}],"predecessor-version":[{"id":107008,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107002\/revisions\/107008"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=107002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=107002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=107002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}