Target 1: 1.3062(94+ pips)
Target 2: 1.3203 (235+ pips)
SL: 1.2837 (131- pips)
GBP Pairs been messy recently. Please use sensible lot size. if the SL is higher than your 1% risk don't take this trade.
Two days ago I was speaking about the fact that 1.29 zone is very well bided for GbpUsd, and after a short dive to that zone yesterday, the pair recovered quickly and is trading again above 1.3 at the time of writing.
I expect 1.3 resistance to give up today and the pair could accelerate up at least to 1.3250 zone
The cable is trading in a range for 2 weeks now, with clear support under 1.29 where buyers are very strong.
If USD weakness will continue I expect GBP to be the main beneficiary and the pair could retest 1.35 zone pretty quickly
Buy dips can be a good strategy for this pair
analysis done, so here is trading theme
in my opinion we are into buy the dips theme for the coming weeks with 1.34 area as the first target.
in case the theme gathers momentum, we may print above 1.3730 still this year
^ Tendency- bearish
^ Downside pressure
^ Zig-zag momentum
^ .50 Fibonacci support
^ Lack of further direction
^ Fundamental support for USD
^ Technical support for USD
Sell Entry @ 1.28750
Take profit @ 1.26750
Stop lose @ 1.29510
100 Pips target
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Hi all traders,
This is a video analysis for gbpusd.
Take note of the swing levels that i have informed in the video.
Thank you and hope it helps in your trading.
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Here in GBPUSD, we have high potential move which is Technically seems to be bullish as because of base area at bottom. The complete Entries are mentioned in the Analysis, so you can take entry properly for great amount of pips gained. I've not mentioned any drop trend in this analysis as no bearish structure there. Go for buy with this analysis hopefully.