GBPUSD breakout and retest completed wait for dump Short

British Pound/U.S. DollarFXCM

Description

⋅ May 5, 2021 6:10 AM

if fall start from this zone then we have double top too.

so two important factor for falling is available :
A. broken channel and retest that is completed
B. double top that is formed

Targets and strong support ahead :
A. 1.3860
B. 1.3800
C. 1.3770

Notice : if 1.3950 break then we may have bullish market .
DISCLAIMER:.
1.trade carefully and have stop loss for sure
2.Past performance is not indicative of future results.

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Comments

kennypilanski

⋅ May 6, 2021 3:04 AM

thanks a lot for chart and explanation

FXCM

⋅ May 5, 2021 10:18 AM

thanks for sharing, this is my view on GBPUSD :

rotimij59

⋅ May 5, 2021 3:50 PM

@FXCM I think it’s buying too

MMBTtrader

⋅ May 5, 2021 8:17 PM

@FXCM, great chart and explanation we have heavy sell position around your target too

FXCM

⋅ May 6, 2021 10:38 AM

thanks for sharing, this is my view on GBPUSD:

Jezza323

⋅ May 6, 2021 5:59 AM

Thanks for your post. It's great to engage with alternative outlooks. I must say, I disagree with your outlook. Here's why:

1) Daily seems to suggest that we have broken previous trendline. Thus Bullish trend is continuing.

2) GU is trading above 20, 50,100,200 EMAs which suggest that trend is not yet weakened.

3) We are looking at atleast 1.4 mark.

Let me know what you think. Cheers :)

Stargazer_fx

⋅ May 5, 2021 5:11 PM

great job mate, thanks for sharing

MMBTtrader

⋅ May 5, 2021 8:16 PM

@Stargazer_fx, most welcome

rotimij59

⋅ May 5, 2021 3:49 PM

Why do I think it’s a buy(bullish)