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Layne_LV
Jan 2, 2020 2:34 PM

GBPUSD Market Outlook | Daily Forex Market Breakdown 

British Pound/U.S. DollarFXCM

Description

GBPUSD
GU has pushed up a bit and no looks like we are rejecting of resistance. Keep in mind that we need to see price to reject from resistance more than once before we think about jumping into a trade. There will always be a better opportunity or a better trade. We do not want to rush into a sell because we see one rejection off resistance, this would be gambling. Only impatience less experienced traders rush into trades. Keep in mind that the bulls are still in control for the time being so we could continue pushing to the upside. That being said I feel GU is looking like a really good sell and I am keeping a very close eye on it.
Comments
ahmedzahid2799
Nice post.. Where do you see a good sell opportunity? Do you think we can retest 1.35xx and then have a good sell off?
Tomjy89
@ahmedzahid2799, too late but wait for lil pull back and re-enter. The take profit is on the bigger trendline.
ahmedzahid2799
@Tomjy89, what level do you think is good for sell? Are you saying we cannot see retest of 1.35?
Tomjy89
@ahmedzahid2799, My first target is 1.3 and the second target is 1.28. You can open a sell around the 1.3 region.
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