Quinton.
Short

Down-Trend Price Stacking Action

FX:GBPUSD   British Pound/U.S. Dollar
55 0 1

Pound price action has recently exhibited "trend stacking" behavior whereby previous support levels tend to turn into resistance as price moves further down. Therefore, it is wise to look for price level to take advantage of the existing bearish momentum. While a well formed level exists at 1.2950 - 1.2960. The higher placed and better priced zone around 1.3000 has several confluence factors to support it ( trend line and H1 200 MAs). The fact that this pair is currently at a long-term, extreme price point (lower end of the long-term range) means that there is the potential for bargain buyers to push the pound up. Therefore it would be a good idea to book profits on any shorts from these levels quickly.

Learn more about golden level trading: http://www.streamhedge.com/goldenlevels/tw

United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
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 Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out