The pair is currently testing the physiological 1.3 level and has met resistance from a descending trend line.
A break below our zone marked in grey is our entry condition to sell, with a target at 1.293
GBPUSD is fast approaching a very strong resistance level at 1.317, which is where I want to look to enter short on this pair.
This could also be the 3rd contact made on a forming trendline from the high in 2014.
My first target is 1.28 and I would wait to see a break below the ascending dotted line to confirm a further drop.
Fundamentals are playing a large...
My sell order triggered at 1.0025
Arrow shows the first target but I may set the SL to break even before then.
I drew this chart after the trade was entered. Did this one on mobile so didn't have a chart on hand to post, but trying to get back into the habit of posting here.
(This isn't the highest probability of trades but still worth taking for me as I'm...
GBPUSD is currently in a down trend and the bulls are losing momentum after entering the resistance zone. The price has also broken and retested a recent ascending trend line in smaller time frames. Sellers can either sell from here or wait until price breaks under the resistance zone and target 1.26 initially.
If the pair breaks above this zone, the bulls have...
We caught some good pips on GBPCAD with the recent move down and now we are looking to catch more on a retrace to the resistance zone above. Should the descending trend line shown here hold, sellers can take the pair lower again.