Shorts took two shots and missed
The shorts in the GBPUSD have taken two shots to the downside and each one missed it’s targets.
The first shot was taken on Friday when the pair moved below the Tuesday/Wednesday lows at 1.2944. The price extended to 1.2914 but bounced back quickly. The price moved above the 1.2944 level, and then held support against the same level. on a test (blue circle 3).
Forex technical analysis: Drilling down into the GBPUSD price action
