GBPUSD BUY LIMIT BUY @ 1.25000 Sl @ 1.24300 1st TP @ 1.27000 2nd TP @ 1.28300 (.50 fib level) Expecting DXY reversal as its reached the highest level since 2020 & GBP strength as GBP INDEX is sitting on the .50 fib ( weekly timeframe) GBPUSD is also sitting on the .618 fib level ( weekly timeframe). It has slowed down as it approached & already rejected just...
This week's top down analysis of GBPUSD: Monthly: price is at resistance in a bearish rising wedge pattern, when it drops the next significant higher time frame support level is around 1.3350 Weekly: price is at resistance and forming double top pattern, when it drops the next significant higher time frame support level is around 1.3350 Daily: price is ranging...
Currently, GBP/USD is trading at 1.3048. The pair is trading in a downtrend and broke the one month support level at 1.3065 to continue the same downtrend, as the price went below its previous support level, which is a clear indication of continuing the same downtrend. So, its first target price is at 1.2778 and the second target is at 1.2600. Follow proper risk...