FX:GBPUSD   British Pound / U.S. Dollar
181 2 4
The trend is your friend in FX but not when the trend is at the end.

GBP has been crushed across the board for 18 months now and we are entering extreme areas on GBP/USD             .

On this Monthly chart we can see that GBP has bounced historically somewhere in the area shown. The problem is that this area is 500+ pips wide.

Traders need to be vigilant and although the fundamentals tell us we're probably headed lower the chance of a pullback from these oversold conditions is high.

A break above 1.4016 could signal that BUYERS have entered this market so if we make a move north I'll be looking to get LONG somewhere above 1.4015
it's very likely!
Reply
theforexportal PRO BusinessInMotion
You'd expect some form of pullback from these levels just to unwind RSI oversold conditions. Timing the bounce will be the tricky part. If we clear today's open at 1.4004 we could head higher. I wouldn't enter the market until then.
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out