{"id":21318,"date":"2011-05-25T20:38:35","date_gmt":"2011-05-26T00:38:35","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=21318"},"modified":"2011-05-25T20:38:35","modified_gmt":"2011-05-26T00:38:35","slug":"gbpusd-broke-above-trend-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/05\/25\/gbpusd-broke-above-trend-line\/","title":{"rendered":"GBPUSD broke above trend line"},"content":{"rendered":"<p>GBPUSD broke above the trend line from 1.6516 to 1.6302, suggesting that a cycle bottom had been formed at 1.6059 on 4-hour chart. Now the pair is facing 1.6302 resistance, a break above this level will confirm that the downward move from 1.6745 had completed at 1.6059 already, then the following upward movement could bring price back to 1.6400-1.6500 area. However, as long as 1.6302 resistance holds, the bounce from 1.6059 is treated as consolidation of downtrend, and another fall to 1.6000 is still possible.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/blog.forexcycle.com\/wp-content\/uploads\/2011\/05\/20110526_gbpusd_1.gif\" alt=\"gbpusd\" width=\"400\" height=\"300\" \/><\/p>\n<p><a href=\"http:\/\/www.forexcycle.com\/\" target=\"_blank\">Daily Forex Forecast<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GBPUSD broke above the trend line from 1.6516 to 1.6302, suggesting that a cycle bottom had been formed at 1.6059 on 4-hour chart. Now the pair is facing 1.6302 resistance, a break above this level will confirm that the downward move from 1.6745 had completed at 1.6059 already, then the following upward movement could bring &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/05\/25\/gbpusd-broke-above-trend-line\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBPUSD broke above trend line&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-21318","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=21318"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21318\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=21318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=21318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=21318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}