DLavrov

GBPUSD: Possible Reversal Signals from Resistance Zones

FX:GBPUSD   British Pound / U.S. Dollar
This is another market for adding to a watchlist.

The price reached 1.31650 resistance. The bearish candle and RSI confirm a price reversal. If so, we can search for sell opportunities using the 4H, 1H, and lower timeframes.

If the price breaks the resistance, there will be a space for an upward movement. The higher resistance at 1.33500 will be able to provide us better sell opportunities.

As the market made the upward movement, buying is not a good idea. I will wait for reversal signals and open short trades.
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Nice Analysis, Thank You!!
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Good job
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I like how this looks. Good luck mate.
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With schizophrenic elections about to happen in few weeks, I personally will not touch all GBP pairs until 'Buy The Rumor' event finish.
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You don't know where it will return, then why this signal ?
+2 Reply
DLavrov vasutrade1
@vasutrade1, because the price reached the resistance and this zone can provide a price reversal.
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i'm having sell position and i hope it will hit my tp at 1.30000
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DLavrov BOYBERM
@BOYBERM, if the price moves lower, 1.3000 will be the main target for sellers.
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