FX:GBPUSD   British Pound/U.S. Dollar
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Every trader that watch GBPUSD             see 1.56750 (or there about) as massive resistance.

Traders call this line polarity change (was support in past and now is resistance)

Resistance was tested about 5 time and still holding.

After every test lows made are smaller and smaller making ascending triangle.

Ask yourself:" If resistance is going to hold why market is not moving lower already:

My 2cents is that resistance will break and GBPUSD             will move higher.

In any case one should wait for break out to trade.

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TradingWisdoms
GBPJPY
TradingWisdoms about GBPJPY a year ago
I hear what you say Trading Wisdoms i would suggest with all the news thats out regarding monetary policy and just released PMI positive news does not have the ability to break GBP higher, whatever happens the next move will be explosive breaking the high and targeting 1.62/1.64 or lower and back below 1.5000.
Reply
TradingWisdoms
a year ago
Hi Mark

Thank you for comment.

Yes market spending time in volatility compression, so break out will be explosive
Reply
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