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DLavrov
Dec 8, 2019 3:52 PM

GBPUSD: Possible Reversal Signals from Resistance Zones 

British Pound/U.S. DollarFXCM

Description

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.
Comments
vasutrade1
You don't know where it will return, then why this signal ?
DLavrov
@vasutrade1, because the price reached the resistance and this zone can provide a price reversal.
captnuche
Nice Analysis, Thank You!!
TradeDayOnline
I like how this looks. Good luck mate.
BOYBERM
i'm having sell position and i hope it will hit my tp at 1.30000
DLavrov
@BOYBERM, if the price moves lower, 1.3000 will be the main target for sellers.
Saeed966
Good job
lc_parente
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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