Petr Suchanek
Short

GBPUSD retesting an important resistance?

FX:GBPUSD   British Pound/U.S. Dollar
364 5 6
When you look at my previous analysis post in Eur yesterday, you could see a very similar price action, which now repeats in Cable. GBP is now retesting an important resistance level . I am personally very cautious about any retracement to the upside to enter short.

Petr            
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Yes, it reminds me your previous post, but I think this market is stronger than EUR/USD and further progress to the upside is possible.
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Petr Suchanek ForceFollower
Yes, that is true. GBP has been very strong recently. I usually aim for a quick momentum trade. On the other hand, GBP is consolidating below a long-term resistance, watch:
snapshot
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What happens to cable, for the rest of this week, shall be determined by the BoE's interest rate decision, etc. - first and foremost.
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Petr Suchanek trgowermagnificent
Of course, but are you really able to make trading decisions based on the news? I am not, so I rely on the price action only.
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I watch your analysis for several months. Very fine! I trade together with you. Now I made the transaction on sale.
I thank you!
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