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UnknownUnicorn13514545

Gbp/Usd : Inevitable stop loss cluster hunt 1.4400 handle ?

British Pound / U.S. Dollar (FX:GBPUSD)  
UnknownUnicorn13514545  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Technical Indicators Beyond Technical Analysis GBPUSD gbpusdanalysis gbpusdsignals gbpusdidea gbpusdforecast cable poundsterling pounddollar
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trendanalysis indicator beyondta gbpusd gbpusdanalysis gbpusdsignals gbpusdidea gbpusdforecast cable poundsterling pounddollar
Gbp/Usd is trading inside the Strong Rectangular range since the Brexit, lacking essential catalysts for an upside breakout/Central bank keep intervening it to support the economy. On daily TF, price is approaching the strong resistance around 1.4200 and likely to make 150-200 pips high to clear the cluster of stop losses / Speculative Sentiment Index is around 30% on an average. Having said that, it is not that easy for the price to break upside range invincibly without any strong economical or geopolitical catalyst. Hence we are expecting a phase 1 retracement towards the 23.6% fib around 1.3560 once the above mentioned stop loss cluster of 1.4400 handle is cleared.

Daily Trend : Up
Major Trend : Range
Signal : Sell Limit @ 1.42xx-1.4400
Stop Loss : 1.45xx
Target : 1.3560
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