Gbpusd just hit a major weekly resistance, this could a mean a major move to 1.26. breaking of the 25sma to the downside would confirm this trend reversal. The sell invalidation level is when the resistance is broken
GBPUSD at back @ 1.26 level, which offers a lot of resistance, strong possibility of a break out would suggest a move to 1.31 levels. if the resistance holds maintenance of the range is possible. These trades offer nice risk-reward ratios.
As I predicted the GBPUSD failed to capitalise its highs of 1.26 to further it's gaining thus it dropped inside the two-month range of 1.20 to 1.26. This is another selling opportunity up to daily support. We might see a retracement but the trend Is bearish Here's the link to the mother idea.
GBPUSD broke 2-month highs, this is a critical level, a pullback is inevitable, but targets are set to the 1.29 mark, invalidation of the trade is when the 25 SMA is broken to the downside this will signal a very nice short. my bias is
potential short below 1.20 but we have to be patient now, wave 4 pullback in the cards, the only way to invalidate our analysis is if it breaks the upper trend line
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Price is @ 23.6 fib retracement level we see the price reacting to this level showing great signs of resistance, owing to the fact that it has broken from the descending channel this would bring bullish ideas into our minds, it is a great possibility, but there is more room in the downward side than the upside and a formation of heads and shoulders is on the...
the trade has two possible outcomes, breaks aways from the consolidation and garners momentum up to the next significant high or it bounces off the resistance and maintains the range. either way, wait for confirmation. either way