1.24 is being tested as resistance
1.24 is the nearest resistance zone for GBPUSD and it is being tested as May announced triggering of Article 50.
1.24 stands in the way of GBPUSD and prevents it from continue towards 1.26 - The major weekly resistance zone I mentioned in this week's newsletter (check my website)
GBPUSD is still inside a trading range and can be traded on both sides from the current levels:
1) Bullish - A close above 1.245
2) Bearish - As long as it stays below 1.24 (or in case it'll reach 1.255-1.26)
1.24 stands in the way of GBPUSD and prevents it from continue towards 1.26 - The major weekly resistance zone I mentioned in this week's newsletter (check my website)
GBPUSD is still inside a trading range and can be traded on both sides from the current levels:
1) Bullish - A close above 1.245
2) Bearish - As long as it stays below 1.24 (or in case it'll reach 1.255-1.26)
Comment:
GBPUSD managed to overcome the 50 days MA line and it is approaching the massive weekly resistance zone near 1.26 - This is the focus zone this week
Comment:
100 pips profit for those who shorted GBPUSD from 1.26 this week.
Protect profits before tomorrow
Protect profits before tomorrow
Trade closed: target reached