Dana16

GBP/USD - Fighting The Trendline

OANDA:GBPUSD   British Pound / U.S. Dollar
On the 20th of Jan, the British Pound reached the highest since 2018 and since than is been trying to move upwards towards 1.380 (back from 2018).

The price has been ranging between support and resistance creating new Higher Highs and Higher Lows each time.

If the horizonal and trendline support is broken, my target will be 1.355.
NOTE: wait for confirmation.

On the opposite side, if the price respects the support and rises to the resistance, my target is: 1.380

If you have a different view, please share, I would love to hear your analysis.

Comments

Fantastic job
+1 Reply
Dana16 TheSignalyst
@TheSignalyst, Thank you, Rich!
Reply
A well-developed analysis!
+1 Reply
Dana16 abel11
Thank you, @abel11 !!
Reply
Always good to have two views so you can sit and wait out all the nonsense
+1 Reply
Dana16 GCGoldenCircle
@GCGoldenCircle, thank you for your comment!
Reply
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