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Gbpusdidea

GbpUsd could dive under 1.2As usual, GbpUsd is doing a lot of flick-flacks and spikes before changing direction. However, ignoring these short-term noises, the image is pretty clear with the pair facing a strong resistance level and nothing to support further rise from a fundamental point of view. That being said, in my opinion, GbpUsd will reverse soon and fall to at least 1.2 zone, so rallies should be sold. 1.23 zone should cap gains very well and yesterday's high could offer a good place for stop loss
Short
by Mihai_Iacob
17
GbpUsd reached my target, but also a strong resistance zoneIn my analysis from 3 days ago, I said that my target for this rise in GbpUsd's case remains at 1.22. Once more, GBP doesn't deny its nature and spiked above this important zone... From a technical point of view, 1.2250-1.2300 should provide strong resistance and NFP data today could be the trigger for a drop. Negation for this bearish scenario comes with a daily close above 1.24 and 1.1750 could be a swing trader's target with an eye on the 1.2 zone also
Short
by Mihai_Iacob
9
GBPUSD : Current Situation & Technical , Fundamental View#GBPUSD - Currently the MARKET SENTIMENT for GBPUSD is on the UP SIDE. All MARKETS including STOCKS and STOCKS may be UP due to MARKET RISK being ON in the past days. It affects the POUND greatly. GBPUSD may be slightly UP this week. - The price can definitely move up to the resistance level above the GBPUSD. The reason for that is because there is a DOWNSIDE BIAS in the MARKET for USD. But before that GBPUSD can SELL until 1.1580 LEVEL. Then you can BUY at 1.2392 LEVEL. So go for GBPUSD LONG ENTRIES. Be sure to pay attention to the UK GEOPOLITICAL STATUS. If that MARKET SENTIMENT changes and STOCKS and COMMODITIES start to DOWN, it is risky to BUY GBPUSD. So keep an eye on the MARKET SENTIMENT.
by benny_marshall
1