GBPUSD buy from curent price reason for buy strong support zone sl 1.27409 tp 1.32596
One more up move is possible - Only interested in buying short term trade from 618, later short from around 1.31 because over all trend is still bearish. Trade with care Good luck!
Pending Short @ 1.3060 Stop Loss @ 1.3270 Target @ 1.2590 RR Ratio @ 2.24 Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
GBPUSD Forecast: Pound has found itself falling hard against most currencies on the back of poor economic data. We are expecting some profit taking to occur and GBPUSD has arrived back at a 100% retracement of the previous swing up. This indicated a potential head and shoulders pattern, giving us an entry to short down to the 1.28500 level.
Very good buying idea for GBPUSD. Everything favors the bullish price action. Keep it simple :) Cheers !!
Our preference: short position below 144.75 with targets at 144.00 & 143.55 in extension. Alternative scenario: in excess of 144.75, aim for a continuation of the rise with 145.35 & 145.70 in line of sight. Comment: as long as 144.75 is resistance, trading range with a bearish bias.
Our preference: buying position above 1.3030 with targets at 1.3115 & 1.3150 in extension. Alternative scenario: in break of 1,3030, a continuation of the decline will be envisageable with 1,2980 & 1,2950 in line of sight. Comment: The RSI is losing its bearish momentum.
As we could see GBPUSD finally broke above the 4HR trend than now we are seeing the pullback, so we wait patiently for price to come back to retouch the broken 15M trend. Just set it and forget it, now we wait. Thanks www.blueprintforex.com
Our preference: short position below 1,2895 with targets at 1,2855 & 1,2825 in extension. Alternative scenario: in excess of 1,2895, aim for a continuation of the rise with 1,2920 & 1,2945 in line of sight. Comment: the immediate trend is declining and is showing a strong dynamic.
Our preference: position below 1,2950 with targets at 1,2860 & 1,2830 in extension. Alternative scenario: in excess of 1,2950, aim for a continuation of the rise with 1,2990 & 1,3030 in line of sight. Comment: as long as 1,2950 is resistance, trading range with a bearish bias
Given the strong bearish movement after the UK elections and with the EMA low price of 50 we have no choice but to follow the price. We have a breaking of a banderin with a strong bearish tendency, we only have to wait for a backward step that validates the break and give us a trigger, only at that moment to enter short. 1.259 target.