Strifor || GBPUSD-06/03/2024
Preferred direction: BUY
Comment: At the beginning of the week, the buy-priority is still relevant for the British currency, however, despite the presence of a limit buyer, a more likely long scenario looks precisely after a small downward correction towards the level of 1.26770. In this case, a false breakout will be formed as soon as the price returns to previous levels after testing the level of 1.26770, that is, it returns again to the level of 1.27100, where the limit buyer is located.
We set the target near the level of 1.27500, since pressing close to 1.28000 will be a rather risky maneuver, there is a high probability of a rebound downwards from this round resistance level.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: At the beginning of the week, the buy-priority is still relevant for the British currency, however, despite the presence of a limit buyer, a more likely long scenario looks precisely after a small downward correction towards the level of 1.26770. In this case, a false breakout will be formed as soon as the price returns to previous levels after testing the level of 1.26770, that is, it returns again to the level of 1.27100, where the limit buyer is located.
We set the target near the level of 1.27500, since pressing close to 1.28000 will be a rather risky maneuver, there is a high probability of a rebound downwards from this round resistance level.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
Trade active
Trade closed: target reached
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