LeoYao

GBPUSD Faces Vote Soon (Educational & Execution Plan)

FX:GBPUSD   British Pound/U.S. Dollar
1297 13 37
The vote for UK to leave/stay in EU is approaching soon on 6/23. We can expect a fierce reaction on the GBPUSD             pair. In case the price moves too fast to catch any chance to get profit, we need to make a detailed plan for it. We need to keep calm anytime.
The black and red line are the support/resistance level, same for the yellow zone. The arrows already tell you what you can potentially do when the price comes to these levels, of course, you need to have basic analysis skills to understand the price action at that moment.
The most interesting level is the yellow zone. That should be a perfect short area.
If I find new pattern comes up in next few weeks, I will update also.
Comment: Now is 1.44078, almost break down below 1.43999.
Wait for today's candle to close then decide to long or short.
Comment: Check my the other GBPUSD idea, We longed from 1.438, today highest is 1.465, around 270 pips earned.

Follow the market to trade GBPUSD
Comment: See if it will pull back to 1.4535 to get good support. Those missed my previous long, can long from there if has good support.
Comment: GBPUSD still within 1.44 and 1.453 which are the two black lines. U can consider to move SL to entry. Take or not take partial profit depends on you.
Comment: come to retest 1.44
Comment: rest of positions were hit SL on entry level. trade close. i will come up with a new idea
Comment: no pullback ,just crazily drop around 300 pips.
Comment: The yellow zone really works guys.
Nice chart! I'm agree with you. ( But I'm curious.) DO you think whether UK stay or not stay, the chart will be downtrend? Thanks. ;)
Reply
LeoYao pipmaster
Hi, thanks for liking my idea. My opinion is UK will stay and USA will only increase interest rate once or zone times this year. Although I put downtrend there, it's more for alarm because there is still little chance UK will leave. If UK stay, it will bull to a relative high level, maybe the yellow zone. Then because of the USA rate increase expectation, it may drop a little bit. If all these go as what we see here, I only can say: it's our Luck. Thanks for your support. :)
+1 Reply
KashifN28959685 farid_ardavani
It appears that from current level, it will jump up before dropping back
Reply
farid_ardavani KashifN28959685
yes i anticipate one more wave to upside (blue arrow) and then drop
Reply
LeoYao farid_ardavani
good charting
Reply
macfuad farid_ardavani
For "GBPUSD" Destination 1.4850
Reply
Thank you wery much.wery Nice
Reply
LeoYao bilk29
happy u like it
+1 Reply
Leo, what's the recommendation of this pair from current price. I was also long on gbpjpy from 157 and still hope that it will bounce up, please provide guidance, thanks
Reply
LeoYao KashifN28959685
Hi u want to know GBPUSD or gbpjpy?
Reply
I am long on both, would be great if you can share your thoughts on both. Thanks
Reply
LeoYao KashifN28959685
GBPUSD I longed also, u can find my entry price in this idea. And as Brexit is around the corner, there might be a little pull back next week but after the vote if British remains inside Europe it may go higher. Gbpjpy idea shows my entry price will be around 151for Long, many people are still buying JPY. I am waiting for it comes to 151
Reply
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