In this idea I will share my technical analysis on GBP/USD and explain what the most important things are to pay attention to.
Here on GBP/USD we see that overall the pair is in an uptrend, which can give us a slight bullish bias, favoring long positions over short positions.
At the same time we see a small horizontal channel forming between the horizontal support and horizontal resistance.
What we're looking for in trading is simply adhere to the age-old principle buy low and sell high.
Based on the horizontal support and resistance we can see that the price is low right now, while getting confirmed on the support area.
I suggest a long trade towards the resistance which should give you about 160 pips.
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- Trading Guru
-------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
I would also like to remind you that I make all of this available completely for free. If you like my work, you can help me out greatly by giving me a thumbs up on this idea
ProjectSyndicate
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nice work, keep it up, looks good!
ViaceslavK
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good work comrade. Its sad that i found this a bit too late.. I was selling. And still selling ... :D
Keep up the good work, will take a look further to your posts!
Best regards,
Viaceslav
Trading-Guru
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@ViaceslavK, Haha shoot, now you know why you should follow the Trading-Guru :D. Thanks for your comment anyway, looking forward to more great trades in the future!
Trading-Guru
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I will be posting more of these regularly, so follow me to find out about great trading opportunities
Trading-Guru
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How would you have charted this? Feel free to post a link to your own idea here as well
Trading-Guru
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I’m curious to hear your thoughts! Let’s make use of the fantastic tradingview community and give each other feedback.