GBPUSD: Bearish Forecast Short

British Pound/U.S. DollarFXCM

Description

⋅ Jul 7, 2020 8:04 AM

One more confirmed channel violation.

GU reached a strong 4H structure resistance.
The price has been rejected multiple times and this morning violated the support of the rising channel.

now I expect a decline to 1.6263

Comment

⋅ Jul 7, 2020 8:51 AM

target is 1.2463
sorry for the mistake

Comments

VasilyTrader

⋅ Jul 7, 2020 8:05 AM

Are you also bearish on GU?

FXCM

⋅ Jul 8, 2020 9:03 AM

thanks for sharing! what's your view on it now? Here's what I see on GBPUSD:

diwakarmurthy

⋅ Jul 7, 2020 6:14 PM

Can you please update the status of the pair currently? Thanks

Geekychasmish

⋅ Jul 7, 2020 12:24 PM

Gbp looks to head up do you think it is testing again and then the decline? Or we will see a break above

VasilyTrader

⋅ Jul 7, 2020 12:47 PM

@kyuvraj72, I have already closed my short position there
It was just a quick pullback trade
Now bullish continuation is possible

ShinGiTai

⋅ Jul 7, 2020 2:20 PM

@VasilyPonomarev,

"One more confirmed channel violation.
GU reached a strong 4H structure resistance" - this is so called "PREMIUM"? Lousy!

VasilyTrader

⋅ Jul 7, 2020 7:49 PM

@ShinGiTai, peace:)

Geekychasmish

⋅ Jul 7, 2020 4:14 PM

@VasilyPonomarev, yea thats what happened if it holds today above 1.25750 i see it going back to 1.28 otherwise it might decline back i guess according to charts

ProjectSyndicate

⋅ Jul 7, 2020 8:37 AM

thank you for sharing. looks good.

VasilyTrader

⋅ Jul 7, 2020 9:34 AM

@ProjectSyndicate, you are welcome!