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DeGRAM
Oct 19, 2020 7:56 AM

GBPUSD: What to do / +70p Trade Long

FX:GBPUSD240
British Pound/U.S. DollarFXCM

Description

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The price is in a growing channel, but strong resistance line cross this channel. In my view, the price will definitely reach strong historical resistance line.
Trend AnalysisChart PatternsBeyond Technical Analysis
Comments
SunnyHillCapital
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Nice work, we have a slightly different view.
What do you think?
sp0629
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@SunnyHillCapital this was my analysis as well!
DeGRAM
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@sp0629, nice thought
DeGRAM
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@SunnyHillCapital, the price can return to the channel
thank you!
Lingrid
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will the price then push off from a strong line?
DeGRAM
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@Lingrid, false breakdown possible
DeGRAM
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@Lingrid,
do you have other thoughts?
Lingrid
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@DeGRAM, price will now push off from the support zone and reach the resistance line)
I think that it will not be able to break through 😏
DeGRAM
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@Lingrid, thanks
Solldy
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The price has already reached the strong resistance line twice.
I expect that after the price reaches the line, it will dip down and will not rise again.📉
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