GBPUSD, 4hr tf, further weakness below 1.4000
Hello my friends,
Another trade ideas for today is GBPUSD pair.
As you can see price recently broken below the ascending trendline. It also bounce back from strong resistance at 1.4000.
As long as price failed to closed above 1.4000 on a daily closing basis then we might see further weakness on GBPUSD.
Right now price retesting the broken trendline and it also exactly at 61.8 fibonacci retracement level.
We could say this might turned to be a strong resistance and expect more drop on GBPUSD.
Sell GBPUSD 1.3910
Stop loss 1.3980 (70 pips)
Take profit 1.3650 (260 pips)
RR Ratio 1 : 3.7
Use only 1-2% risk
Good luck
Another trade ideas for today is GBPUSD pair.
As you can see price recently broken below the ascending trendline. It also bounce back from strong resistance at 1.4000.
As long as price failed to closed above 1.4000 on a daily closing basis then we might see further weakness on GBPUSD.
Right now price retesting the broken trendline and it also exactly at 61.8 fibonacci retracement level.
We could say this might turned to be a strong resistance and expect more drop on GBPUSD.
Sell GBPUSD 1.3910
Stop loss 1.3980 (70 pips)
Take profit 1.3650 (260 pips)
RR Ratio 1 : 3.7
Use only 1-2% risk
Good luck