Watching for GBPUSD to settle above 1.2400. Next the pair will test 1.2688 level near term and then break above that toward 1.2900 - 1.3000
Sorry guys for being away for 4 months as I was working on my new book release "Trade Forex with Confidence". Thanks for your patience and support.
amzn.to
After the Eurjpy trendline kiss and miss episode, it's time for action reply.
Go short on GBPUSD between 1.2410-1.2415 with s/l above 1.2450 for targets of 1.2358 and 1.2310
It can be observed that GBPUSD is breaking the Symmetrical Triangle on the downside, looking poise for a good fall. The triangle size is huge, but taking a small target keeping in view the news to come.
Short Entry: 1.2410
Target: 1.2336
Stop: 1.2458
It has been observed on the 30 mins chart of GBPUSD that the price is at an important resistance level which has held well in the past along with an MACD Crossover.
Entry: 1.2649 to 1.2666
Target 1: 1.2591
Target 2: 1.2534
Target 3: 1.2468
The rising trendline and the horizontal support at the FX:GBPUSD has been broken. Price is trying to retrace, but is unable to cross back the upside. If price does cross above, it should face resistance again at the red line.
Short can be initiated at CMP or at 1.2535 if price retraces again later, if you are late to see this.
Target will be a little above the...
GBPUSD the strong currency fell nose down on brexit, and has been remain in down trend since brexit, now it is gradually trading in upward direction, there is a good buying opportunity to enter long at 1.24124 in this pair with a target of 1.28063 in near term, traders be cautious of breakout downward as the pair doesn't seem too strong to hold the uptrend but...
