GBPUSD Technical Overview and Trade Idea
The pair is trading at 1.31410 as of writing, above EMA 50 in the H4 Chart Time Frame. A bullish view.
GBPUSD is consolidating between 1.31570 – 1.31200 as seen on the H1 Chart.
The next step of the Cable will be determined by the direction of the breakout of this consolidation zone.
Scenario 1: 40% probability.
If the pair breaks above 1.31600, 1.31830 and 1.32380 will be the next targets. At 1.32380 we have a bearish shark pattern completion.
Our Trade will be ” buy ” close above 1.31600 targets 1.31800 and 1.32350 and sell at 1.32350 – Bearish Shark –
Scenario 2: 60% probability.
The pair is testing an important resistance. If the price breaks below 1.31200 , 1.30650 will be the next target. And our trade will be “sell ” break below 1.31200 targeting 1.30650.
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The pair is trading at 1.31410 as of writing, above EMA 50 in the H4 Chart Time Frame. A bullish view.
GBPUSD is consolidating between 1.31570 – 1.31200 as seen on the H1 Chart.
The next step of the Cable will be determined by the direction of the breakout of this consolidation zone.
Scenario 1: 40% probability.
If the pair breaks above 1.31600, 1.31830 and 1.32380 will be the next targets. At 1.32380 we have a bearish shark pattern completion.
Our Trade will be ” buy ” close above 1.31600 targets 1.31800 and 1.32350 and sell at 1.32350 – Bearish Shark –
Scenario 2: 60% probability.
The pair is testing an important resistance. If the price breaks below 1.31200 , 1.30650 will be the next target. And our trade will be “sell ” break below 1.31200 targeting 1.30650.
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Note
Same DXY Recovery as published on EURUSD and XAUUD ideas
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Cycle Sniper Indicator: mql5.com/en/market/product/51950
Cycle Sniper Indicator: mql5.com/en/market/product/51950
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.
Discord Channel : discord.gg/Ku9kzfq
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Cycle Sniper Indicator: mql5.com/en/market/product/51950
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.