FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD has been falling since the 1st of May. We are at the bottom of a range which we have been in since the end of March.

A range of 1.21500 - 1.26500.

I think there is an opportunity to go long in this market but if we break out of this range to the downside, there is a potential to go significantly lower.

I prefer longs in this pair. Everyone's comments and feedback are more than welcome.

Happy trading everyone.

Comments

Is that not a double top at 1.2650 which we have then subsequently broken the neckline at 1.2250? The 1.2650 double top also breaks the 61.8% Fib retrace from the major impulsive move early March indicating a likely move to the downside, also the overall primary trend is to the downside?
Reply
@JLA23 I agree with you. When I look at the larger time frames. It looks like we will have a large move, up or down. I just prefer a long overall. Definitely there is an argument to the downside too. Thanks for your feedback.
Reply
JLA23 PeterHedger3
@PeterHedger3, thank you, i have only been studying trading for 2 months now, so getting there slowly!!
Reply
JLA23 JLA23
@PeterHedger3 looking good at moment; got limit set at 1.2010 for couple of hundred pips
Reply
@JLA23, Good luck to you :)
Reply
JLA23 PeterHedger3
@PeterHedger3, cheers, likewise
Reply
NasirkhanRoghani PeterHedger3
@PeterHedger3, hello dear need your contact?
Reply
PeterHedger3 NasirkhanRoghani
@NasirkhanRoghani, What are you asking?
Reply
NasirkhanRoghani PeterHedger3
@PeterHedger3, Dear give me your whatsapp. Need your trading guidline
Reply
im going long for now... completely agree.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out