Retrospective: Cable reclaims its July shelf
GBPUSD1DBullishpublished 03:08 · updated never, that’s the point
The levels are free, you just have to be signed inBoth key levels, why they matter, and what would make this view wrong.
Join free
Join free
The level that capped every rally in mid-July gave way in the final days of July, and the line that would have voided the call was never closed below.
GBP/USD based near the month’s low in the last week of July after slipping from the shelf that had capped it through mid-July, then reclaimed that level with a close at 1.3480 on July 31, dipped back below it only once in the following week, and never closed below the invalidation line at 1.3400, because that single retest found buyers rather than sellers.