Regarding to my last week analysis about GBPUSD/Sterling. GBPUSD exploded higher last week at the price broke above 1.2570 resistance. It closed well above the neaby resistance. This is obviously a Bulls taking in Control while bear still asleep. We can look for minor pull backs to the downside to get long and trade in-line with the bullish momentum. The price...
We take short position below the red triangle and book profit at 1.24000.
Do not open a trade if the closes above the red triangle.
Get out of trade if it breaks 1.291000
There is a possibility that GBP/USD holds it's support and breaks it's resistence about 200 pips up.
This is a continuation pattern. You can wait for more confirmation before investing.
Always make your own analysis before getting in any position as well as money manage properly. FX_IDC:GBPUSD
GbpUsd is nearing a resistance zone, it's likely that from this area the area there will be a strong wave down specially if the 1st lower range breaks. This will make 1,2580 a nice target to use as take profit on GbpUsd pairs.
I dont expect the 2nd lower range to break straight away after it, a wave back up touching the 1st lower range is more likely but if the...
GBPUSD has shown recently when it has gotten down to support near 1.2365, showing that the level is the line in the sand for buyers as they continue to buy near that level. Currently price around the Strong resistance at price around 1.257. We see the potential for more upside movement in this pair whilst above that level and traders can watch for price action...
Hello,
On the chart I build two pitchforks from projected geometry, the bigger one show price
blasted through the median line after which it slowed down. Now ticking against 1.520
at which we find a beautiful confluence of the fib .618 retracement and daily close resistance.
The smaller pitchfork shows price tried breaking through the median line and found...
