The price broke through the support level with an impulse and corrected at the moment. I think that after consolidation below the level, there will be a fall. Waiting for a fall to support 1.368
Impulse movement is approaching a strong support level .
After the distributive insertion, the tool enters the consolidation phase and will be in flat for some time,
I think that after testing the 1.35 level, the price will roll back, tentatively, to 1.37
Gbpusd is on a strong support zone and it also formed a descending channel with a 3 touch pattern and it is expected to long , wait for a continuation pattern or look for a risk entry with proper risk management
There is a Trading Signal to Sell in GBPUSD Currency Pair.
Traders can open their Sell Trades NOW
⬇️Sell now or Sell on 1.3795
⭕️SL @ 1.385
🔵TP1 @ 1.366
🔵TP2 @ 1.3565
🔵TP3 @ 1.3425
Entry details are shown on the chart.
We're only looking for the green line which is take profit target.
Trade history can be seen below this trade idea too for full transparency.
I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen...
In Jan 2018, GBPUSD has a double top at 1.43, break the higher low trend line, and then goes to a bearish market after that.
In Jun 2021, GBPUSD has a double top again below a similar area like 2018, at 1.425, and most likely goes to a bearish market again. Especially after the confirmation that the prices has break the higher low trend line.
To be honest, this for me is like a 60/40 trade at best, I'm not too sure. This trade would be mostly theory or using very low risk. I don't like the price action here with the bull wick rejection on H4 and congestion around 100 ema --- it's a potential uptrend in infancy stage. Retested support twice, looking to target the supply zone around 200ema.
The price is working out the strong April support level . Rolls back, corrects and does not update local lowlands. I think that the instrument may rise to the nearest resistance. Target - 1.400
My past forecasts on GBPUSD 👩💻
Hy dear Members. Hope you all are enjoying our ideas and analysis. Now we are here to discuss about USDJPY. USDJPY Is making Flag pattern. It has Maximum chances it will drop more to the Price level 109
Keep in touch we will update further soon.