GBPUSD is currently in excellent pattern position, enabling traders to benefit from Long and Short if the bearish butterfly setup develops.
Currently its a SHORT Setup from 1.4485 - enabling to give around 200-250 Pips to the downside.
We are favouring some USD strength in coming days.
Hi, Enthusiastic traders. This is an update on the GBP/USD, it is looking for a
breakout. It is about to break out of fortification, which would be a great idea
to BUY above on 1.42845 and SELL below at 1.42570. And I'll post the other major
forex trading pairs, so FOLLOW me if you want instant notification. Have a successful
trading day.
The ECB meeting has triggered an upside break above the daily trend line.
Price will pull back inside the trend line and most likely to the 50% fib level at 1.42514 before breaking becoming exhausted which will present a long entry.
Price is likely to advance to the 76.40% fib level before it becomes exhausted and is likely to consolidate pending another...
GBP/USD Hourly
1.4076
Overview :
Market managed to fell to test support 1.3845 as we see over the chart, while managed from there to rebound toward target zone 1.3960-1.4000 as we advised before on Tuesday.
Britain published construction sector PMI: 54,2 that is lower then the forecasted 55,5. The pound did not receive support from the black gold market...
SUMMARY:
The primary trend of GBP/USD is bearish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 50 day SMA and taking resistance of 200 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.4405 and support at the level of 1.4175. If it breaks...
