SELL After Breakdown Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
If you were to look at the daily time frame, price formed a double top and has rejected off the daily trend line and printed a very bearish candle that have filled the entire body of the previous daily candle. On the 4 hour chart, price had been trending up, however volume has been decreasing. So here on the 1 hour chart, a retest of 1.29100 - 1.29300 price zone ...
As stated in my last TA of GU this pair needed to stay above key level 1.275 other wise we could see this pair fall to as low as 1.250
That is what we currently are seeing, i feel 1.26 is coming soon and maybe 1.25 shortly after.
That being said I still feel this pair has the potential to push up to 1.3 some where in the near future.
Here we have GBP/USD. The pound currently is above the key level of 1.2750, if we can remain above 1.2750 then I believe we can push all the way up to 1.3, Which would be a huge push so it wouldn't be the best "short term" target but definitely a good "medium term" Target. If we fail to break above 1.275 then We could fall to 1.25 but I am personally leaning more ...
Gbpusd currently challenge 1.275 strong resistance, expect bounce occured.
Shorting 1.274 as a starting point. SL 30. TP 30 - 70.
ForLong, i see strong support near 1.265 - 1.267, suggest 1.266 for Long in January. SL 20 TP 20 - 50.
Happy new year, and happy trading.
After the bad news around BREXIT last week we saw a big drop for GBP/USD. It already dropped to the lowest point since April 2017. If GBP doesn't get good news and doesn't break the Resistance level of 1.27000 we could fall even further to the Support level of 1.23800.
Goodluck trading and let's see how this Pair develops this month.