Get started
YourLazyTrader

GBPUSD pulls back from the previous high, correction likely.

British Pound / U.S. Dollar (FX:GBPUSD)  
YourLazyTrader Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis GBPUSD gbpusdshort gbpusdsignal gbpusdanalysis gbpusdidea gbpusdtrade gbpusdsetup
63
3
trendanalysis chartpattern beyondta gbpusd gbpusdshort gbpusdsignal gbpusdanalysis gbpusdidea gbpusdtrade gbpusdsetup
In my previous #GBPUSD idea, I told you to buy at the 1.3030 level and target the 1.3150 level( idea link attached below). As you can see, price reached the 1.3150 level yesterday.

However, GBPUSD pulled back from that level possibly creating a Double top formation.

If #GBP/USD stays under the resistance level that I have marked in my chart, it is possible to see a deeper correction. So, watch out for bearish price action around the resistance level and you can probably sell GBPUSD for 100+ pips.
Trade active:
Sold at 1.3175

Related Ideas

YourLazyTrader
GBPUSD daily chart analysis, important levels to consider
YourLazyTrader
GBPUSD hourly chart analysis, uptrend continuation is likely
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.