The British pound is holding onto the latest positive factors towards the buck as merchants await the Financial institution of England financial coverage resolution later right this moment. Additional bullish development above the 1.2530 degrees ought to provoke a take a look at the 1.2600 degrees. A lack of the 1.2425 help area is prone to see...
Buy (limit) above S1=1.2035.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=1.196.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.196.
In this situation, there is an expectation to reach the...
The pair has formed a rising broadening wedge pattern on daily basis, where yesterday, the prices turned from the lower trendline of the pattern, rebounding from the crucial support of 1.20200, creating a double bottom. The prices can reach the level of 1.22860 with an intermediate target at 1.21606. On the other hand, initial support lies at the 1.20200 and then...
GBPUSD trading near to the imparttent support level on short term. As per wave count GBPUSD on more leg upside is possible WAVE 5 of c. FOR this count 1.2110 level act as invalidation level.
ENTRY & EXIT SIGNAL:
LONG @ 1.2180 -- SL 1.2110 -- TP -- 1.2330
GBP/USD is under pressure as of writing, trading below the 50-day MA of 1.3105.
The drop seen today marks a weak follow through to the falling wedge breakout confirmed on April 30 and the pair’s solid bounce from the 100-day MA seen on Friday.
The pullback from Friday’s highs, however, could be short-lived as the ascending 5- day MA is capping downside in the...
After Brexit Decision GBP crashed vertically managed to halt @ 1.19048 and lost momentum, It was in the range of 1.27600 to 120850 in last 7 months horizon. Fundamental condition still remains choppy !! Volumes improved in recent past days, Open interest raised by 3.6 %.
Expect price to trade in the range of 1.2800 to 1.31750 in coming days, Shorter term traders...