GBPUSD Sell to 1.2940 min (support) along with Trend. MAs have not crossed, still bearish. Support Confluence with fibs Anticipating a move up with DXY or more bad news for the Pound Trader sentiment = buy Contrarian confirm We shall see. Non-aggressive movers will wait for confirmation of a close below support (blue) line or entry with confluent MoMo.
Decline from highs expected to continue this week with selling pressure on GBP after bank of England statements last week , retesting 1.3150 will give good short opportunity .
FX:GBPUSD BREXIT: Safe Trades;
All the details are displayed on the chart DO YOUR OWN DUE DILIGENCE BEFORE ENTERING THE TRADE.
Sell below 1.3154. Stop loss at 1.3191. Take profit at 1.3058. Reason for the trading strategy (technically): Price has broken a long term ascending support-turned-resistance line and we’re expecting to see a nice drop from here. We look to sell below 1.3154 resistance (Fibonacci retracement, pullback resistance) for a further push down to at least 1.3058...
GBPUSD to fall 70-80 pips in the wake of Rate Decision to maintain the same level of 0.25%
Waiting.. I mean Gartley pattern..
chance to sell GBPUSD at 1.3210 stop loss : 1.3260 take profit : 1.3150
Very critical resistance here. Also cable has not been as strong as the euro. MPC meeting coming up and it will provide us with a clear direction. As of now its a low risk high reward setup
GBPUSD 4H Short Resistance: 1.31750 Support: 1.30742 - 1.30216 This is not investment advice
GBPUSD 4H Short Support: 1.29500 This is not investment advice
Our preference: short position below 144.75 with targets at 144.00 & 143.55 in extension. Alternative scenario: in excess of 144.75, aim for a continuation of the rise with 145.35 & 145.70 in line of sight. Comment: as long as 144.75 is resistance, trading range with a bearish bias.