GBPUSD is reacting at the support zone of 1.34000. This is the last important support zone that the pair is facing. If this support zone is broken, the pair will enter a prolonged Downtrend phase. 1.325 could be the target for this decline.
If the 1.34000 zone is pushed up by buyers, the pair will touch the 1.35000 border zone. If this zone is broken, the pair will form a double bottom pattern and continue to increase back to the peak of last week around 1.36000. In case the buying force is not strong enough to break 1.35000, the pair will return to the sideway in the rectangular border.
Support: 1.32500
Resistance: 1.36000
Break out: 1.34000-1.35000
Recommended good trading strategy:
Trade when price confirms in Break out zone.
BUY 1.32600-1.32400 Stoploss 1.32000
SELL 1.35900-1.36100 Stoploss 1.36400
If the 1.34000 zone is pushed up by buyers, the pair will touch the 1.35000 border zone. If this zone is broken, the pair will form a double bottom pattern and continue to increase back to the peak of last week around 1.36000. In case the buying force is not strong enough to break 1.35000, the pair will return to the sideway in the rectangular border.
Support: 1.32500
Resistance: 1.36000
Break out: 1.34000-1.35000
Recommended good trading strategy:
Trade when price confirms in Break out zone.
BUY 1.32600-1.32400 Stoploss 1.32000
SELL 1.35900-1.36100 Stoploss 1.36400
Trade active
Notice the GBPUSD Price. If the price break out support zone at 1.34000 you can place a SELL order
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☘️My Telegram Channel: t.me/VHTraderFX
Join me to get Trading signals, Trading knowledge for investors
Join me to get Trading signals, Trading knowledge for investors
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.