Signal_Centre
Short

GBPUSD - Bearish pressure returns

FX:GBPUSD   British Pound / U.S. Dollar
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6
GBPUSD - Intraday - We look to Sell a break of 1.2200 (stop at 1.2245)
Price action has posted a bearish inside day and is negative for short-term sentiment. Traded to the highest level in 2 weeks. Little net movement overnight. A break of the short-term upward trending support at 1.2200 should encourage selling. With our medium term bias looking to fade gains and the short term bias indicating buying interest we are faced with mixed signals. This has resulted in mixed signals and we prefer to trade a break.
Our profit targets will be 1.2110 and 1.2075

Resistance: 1.2275 / 1.2365 / 1.2470
Support: 1.2205 / 1.2105 / 1.2075
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Comments

How long do you think it will take to break down past the 1.2200
Reply
Signal_Centre marcojardim01
@marcojardim01, Hi mate, its difficult to say on the timing front but after yesterday's rejection there is good bearish momentum to challenge the level as early as today in my opinion
Reply
marcojardim01 Signal_Centre
@Signal_Centre, yh I see where you're coming from. Should test resistance within next 6/8 hours. After that down we go. Net longs in the majority in theory should play in our favour.
Reply
Nice idea
Reply
Signal_Centre Jasmeenkaur
@Jasmeenkaur, Thanks mate
Reply
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