Key S/R areas for GBP/USD, levels to sell
Hello traders, FOMC has given as GBP/USD a boost to the upside as the market
believes Fed will cut rates soon although the Federal Reserve has kept rates
unchanged for now.
Technically, we do not have too many cues to go on. However, price has reached the 1.28
supply level. A bigger resistance level lies at 1.3150.
For now, we are not selling GBP/USD. Short-term traders can consider selling
GBPUSD@1.2890 level provided there is bearish price action.
believes Fed will cut rates soon although the Federal Reserve has kept rates
unchanged for now.
Technically, we do not have too many cues to go on. However, price has reached the 1.28
supply level. A bigger resistance level lies at 1.3150.
For now, we are not selling GBP/USD. Short-term traders can consider selling
GBPUSD@1.2890 level provided there is bearish price action.
Comment:
FOMC induced spike seems to be fading
Comment:
The 1.28 resistance highlighted by us has worked and price has dropped 100 pips from that level
Comment:
A massive 160+ pips fall from our 1.28 resistance zone. Currently price is testing the 100-day ema level
Comment:
270 pips profit so far