jerryren87

GBPUSD testing strong resistance. 2 possible trade setup

FX:GBPUSD   British Pound/U.S. Dollar
29 1 0
This is the 4th time this level has been tested since May 2015, There are 2 possible set ups that may take place here.

1 - if the level 1.5125 is broken, then there is potential downside to the next resistance level, which is located at 1.49772.

2 - with, in my opinion, equal probability, the price will rebound back up again with a strong fundamental news once the reversal breaks 1.5220, then reversal can be verified, and the next target would be 1.5322.
Bankster
a year ago
agree, I see also green channel support and daily RSI & MACD divergence, if this level holds, we will see a strong up move

snapshot
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out