GBPUSD 1-2 months trading plan.

This is an update to my early February two month trading plan:


GDPUSD has hit eventually our 1.3200 downside target after being rejected on more time just below the Lower Highs trend-line of July 30 2021.

As you see, this trend-line is what's causing the long-term bearish trend on the pair, which can be alternatively viewed as a Channel Down, which only broke to the downside to test the 1W MA200 (red trend-line). At the same time the 1D MA200 (orange trend-line) appears to be a Resistance level as since late September 2021 has rejected the price 2 times.

That (the 1D MA200) should be the target (actually would be more fair to set it at 1.3550) as long as the 1W MA200 is holding as a Support. It broken, the plan should be to take loss and sell instead targeting the -0.236 Fibonacci extension (1.2920). A 1D candle closing above the Lower Highs trend-line, should be treated as a bullish break-out signal (1.4000).

You can keep an eye on the 1D RSI for extra weight on timing the rebound. Since September 2021, every time it has hit the 30.000 level, the GPBUSD pair made a Lower Low and rebounded.




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