naynay97
Long

gbp usd long term setup

OANDA:GBPUSD   British Pound / U.S. Dollar
on the gbp/usd I see a potential bullish set up while applying support and resistance lines. I see possible retracement towards newly formed support zone which has been tested before from previous data and I believe price will retrace towards the 0.618/0.7 level before shooting off. Price than formed an ABCD with D being the final confirmation of the pattern.

Be careful trading this as fundamentals are coming out with brexit uncertainties which may drive GBP lower which could possibly lead to a short set up if price decides to not move in our direction. So I will look at this as a long set up until further confirmation.

Related Ideas

EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out