GBPUSD reversed from major resistance around 1.3500 mark
GBPUSD has hit yet another high today around 1.3482 mark. It was expected to cross 1.3500 resistance but nonetheless bears seem to be poised to get back in control. The currency trades around 1.3410/20 for now and is producing an engulfing bearish candlestick pattern on 4H time frame. We shall be prepared for yet another push through 1.3500 handle before giving in to bears. Overall, GBPUSD might be facing strong resistance around 1.3500/10 mark.
Aggressive traders might remain short, stop around 1.3600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Aggressive traders might remain short, stop around 1.3600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.