Pound against Dollar pair, has almost trended sideways during last week, it looks like go upside at the starting of the week to 1.30 area, there it may counter a resistance to move down to 1.27600 price area
Yesterday, GBP decreased against the USD by 0.7 percent. Thursday witnessed another cascade of Brexit headlines develop, consequently bullying GBP/USD to lower levels on Thursday and erasing Wednesday’s gains.
The 1.31/1.3064 resistance zone on the H4 timeframe once again served sellers well, composed of the 1.31 handle, resistance from 1.3064 and August’s...
Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (1.3003).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPUSD is in a range bound and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a...
There is a perfect buy opportunity in GBPUSD pair. The breakout of prices from a cup and handle chart pattern along with the technical indicators supporting the up move can benefit the GBP bulls. The Parabolic SAR is signaling towards an up ward price movement coupled with RSI movement around 60 representing more room for gains.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.2805). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
