I dont really like trading this pairing at the moment as i can only see massive weakness coming for GBP and USD with the economy the way it is, so my views are this pairing is going to be rather unpredictable this year, 2 weak currencies going at each other.. Anything could happen, but i am expecting price to drop into my buy zone (yellow box) which will be the 3rd trendline touch lined up with good support, before price shoots up quicker than a smack head who just found £10 on the ground.
I am not selling down to this area, but will buy if and only if price falls to my zone! Dont go rushing into a trade when it is in no mans lad, be patient!
If you would like to know anything about trading just message me.
In terms of having a grasp in technical analysis, I am doing some paper trading just to try and get confident in it. Right now i am learning about wedges and triangles, however is there anything more that i should look into as a beginner in terms of a trading strategy in price action? Thank you for your help!
pmccloskey1987
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Hi, when is the GBPUSD likely to drop ? And is this likely to rise above 1.4
Premier_FX
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@pmccloskey1987, Not sure on this pairing as i have explained i am expecting both GBP and USD to weaken so anything could happen.