forexTrdr GBPUSD- ARE TRENDLINES THE POUNDS FRIEND?
Morning traders,
Looking at Great British Pound versus US dollar which has come up to resistance levels around 1.31 as highlighted in our trading view chart. This idea comes from a combination of price action and technicals.
On our chart we have RSI and bollingers both forming bullish trendlines to match price action of higher lows since late April. We also have added a trendline dating back to the February low which may come into play should the pair pull back.
Keeping this trade simple but as always with British Pound our worry is we are always one headline away from Brexit noise which could impact our trade for better or worse.
Comments and feedback are always appreciated from anyone in the trading community
Good luck trading
from the Team at forexTrdr
find us on instagram, twitter and Alexa flash briefings
Looking at Great British Pound versus US dollar which has come up to resistance levels around 1.31 as highlighted in our trading view chart. This idea comes from a combination of price action and technicals.
On our chart we have RSI and bollingers both forming bullish trendlines to match price action of higher lows since late April. We also have added a trendline dating back to the February low which may come into play should the pair pull back.
Keeping this trade simple but as always with British Pound our worry is we are always one headline away from Brexit noise which could impact our trade for better or worse.
Comments and feedback are always appreciated from anyone in the trading community
Good luck trading
from the Team at forexTrdr
find us on instagram, twitter and Alexa flash briefings