GBPUSD did not break the support line (although trying). But even if the price breaks this line, there is another strong support line nearby. Therefore, I recommend buying from the second line of support. The goal is the line of resistance.
GBPUSD is bound for a sell. This pair is facing some major resistance in the 1.265 region which, not surprisingly is in confluence with the 61.8% fibonacci ratio- because of this we can anticipate some selling pressure at least to the next support level at 1.203 where we would start scaling out of our trade.
if we can break 1.25102 and re test will look for buys market kinda going sideways at the moment, so could go either way. not rushing into this
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Price on a strong support line. I expect growth to resistance lines.
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You will learn the best place where we can trade GBP/USD at low risk. Write in the comments all your questions and instruments analysis of which you want to see. Friends push the like button if you like the idea - that would be the best THANK YOU. Thank you for your support, I Love it.
Hey, I am back with another quick idea. GBP/USD is in a bearish pattern and testing a strong resistance level, I will be looking for a short entry around the resistance level of 1.24850 which is level that gives very good risk reward ratio. Disclaimer: Used "Short position" tool doesn't corresponds to my actual inputs :) Good luck with trading this pair!
Currently just looking for a retrace for price to get into the zone of 1.24097 look for ant bullish price action in that zone especially rejection of that zone. I will be risking 20 pips to secure about 200 pips max.
We are kissing the 200 sma in the 4H chart GBP/JPY should retrace to this previous support to get stronger and go for another push up. If we break the 200 sma after that retracement, we can continue the bullish reversal to the levels before the crash
After breaking back up into the consolidation structure, we find a clear HL being formed with a strong indication of upward momentum. SL has been set below the pinbar candle with targets set at the highs previously formed inside the structure. Always trade using appropriate risk management.
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Hi Traders ! This is my idea about GBPUSD . You must wait for price to raise and then you could sell it . Entry Point : 1.235 *Please consider Money Management and Risk Management and follow your rules . this is only my opinion ! If this analysis was helpful to you please Like & Follow . Please Share your opinion in comments.