GBPUSD
TRENDS
Short term: STRONGLY BEARISH
Underlying: SLIGHTLY BULLISH
MY OPINION
BEARISH UNDER 1.2934 USD
MY TARGETS
1.2631 USD (-0.0064)
1.2418 USD (-0.0277)
MY ANALYSIS
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for GBP/USD as long as the price remains well below 1.2934 USD. The next bearish objective for sellers is set at 1.2631 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.2418 USD. In case of crossing, the next objective would be the support located at 1.2172 USD. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 1.2631 USD. With this support, against the trend traders who want to buy GBP/USD on a buy signal from their trading strategy should not hesitate to act.
TRENDS
Short term: STRONGLY BEARISH
Underlying: SLIGHTLY BULLISH
MY OPINION
BEARISH UNDER 1.2934 USD
MY TARGETS
1.2631 USD (-0.0064)
1.2418 USD (-0.0277)
MY ANALYSIS
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for GBP/USD as long as the price remains well below 1.2934 USD. The next bearish objective for sellers is set at 1.2631 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.2418 USD. In case of crossing, the next objective would be the support located at 1.2172 USD. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 1.2631 USD. With this support, against the trend traders who want to buy GBP/USD on a buy signal from their trading strategy should not hesitate to act.