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ForecastCity
May 4, 2020 10:36 PM

Don't miss the great sell opportunity in GBPUSD Short

British Pound/U.S. DollarFXCM

Description

Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.252). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. GBPUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 47.

Take Profits:
TP1= @ 1.2405
TP2= @ 1.2360
TP3= @ 1.2255

SL: Break Above R2
Comments
DenizKilicDeniz
thank you very much for your analysis!
ForecastCity
@DenizKilicDeniz, You're welcome. 👍
fxniki
I totally agree with your idea. thanks for sharing it with us.
ForecastCity
@fxniki, Great. Thanks for your comment. 👍
Calancea
Very nice analysis, described briliant... Thank you for contribution
ForecastCity
@Calancea, You're welcome. we appreciate your support. 👍
Kamryn
Nice analysis as usual
ForecastCity
@Kamryn, Thanks. do you have any idea for GBPUSD?
Kristalyn
Great analysis
ForecastCity
@Kristalyn, thanks. we're glad you liked it.
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