Hello Traders,
In the above analysis: I'm showing the both scenario may happen on GBPUSD pair with the help of simple SUPPORT/RESISTANCE.
Where,
GBPUSD is on a sideways from last 15 day at range of 1.42340 to 1.40990. So the analysis says: if it'll break this resistance(1.42340) then we will see a new high on GBPUSD after 3 years of downtrend or if it fail to break resistance & came below support (1.40990) then next target will be 1.40290.
You can use this analysis on intraday & swing both. Use proper risk management if enter.
Best of Luck
Happy trading
In the above analysis: I'm showing the both scenario may happen on GBPUSD pair with the help of simple SUPPORT/RESISTANCE.
Where,
GBPUSD is on a sideways from last 15 day at range of 1.42340 to 1.40990. So the analysis says: if it'll break this resistance(1.42340) then we will see a new high on GBPUSD after 3 years of downtrend or if it fail to break resistance & came below support (1.40990) then next target will be 1.40290.
You can use this analysis on intraday & swing both. Use proper risk management if enter.
Best of Luck
Happy trading
Trade closed: target reached:
SHORT TARGET REACHED