fxstraderomi
Long

GBPUSD Overnight outlook - Long objective 1.4254

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
Formation - Expanding falling channel

Outlook - Cautiously bullish

Sterling's sharp fall left it oversold as per 15-min RSI , with the indicator forming bullish divergence pattern with price chart in the NY session.

The subsequent attempts to recover losses have failed around 1.4220, still the intraday support of 1.4190 (daily low) is being defended.
Thus odds of a quick fire corrective rally to channel resistance of 1.4254 cannot be ruled out.

Recommendation - Long @ 1.42 target 1.4254 Stop 1.4188

Strategy - Stop is quite tight, but traders may attempt going long again, unless the 15-minute candle closes below 1.4190. Stop however is to be exercised not on closing basis
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out