The last two weeks felt like a rollercoaster for GBPUSD. It all started with a gap down on Monday, April 7, but that weakness didn’t last. The pair filled the gap and then rallied hard – over 700 pips!
🤔 Key Question – Is the move sustainable, or are we topping out?
Now the pair is approaching a massive resistance zone, one that dates back to 2019. While the bullish sentiment and USD weakness could push it toward 1.3500, this isn’t a breakout I’d blindly chase.
📉 Why I'm expecting a reversal:
Price is entering a long-term resistance area – a major barrier.
700 pips of upside happened fast – a pullback is likely.
USD weakness might fade, creating downward pressure.
1.3450–1.3500 is my key sell zone.
📊 My Trading Plan:
I’ll be watching for clear signs of weakness near 1.3450 – such as rejection candles or slowing momentum. If the market confirms, I’m looking for a 500 pip move down, with 1.3000 as the first major target.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
🤔 Key Question – Is the move sustainable, or are we topping out?
Now the pair is approaching a massive resistance zone, one that dates back to 2019. While the bullish sentiment and USD weakness could push it toward 1.3500, this isn’t a breakout I’d blindly chase.
📉 Why I'm expecting a reversal:
Price is entering a long-term resistance area – a major barrier.
700 pips of upside happened fast – a pullback is likely.
USD weakness might fade, creating downward pressure.
1.3450–1.3500 is my key sell zone.
📊 My Trading Plan:
I’ll be watching for clear signs of weakness near 1.3450 – such as rejection candles or slowing momentum. If the market confirms, I’m looking for a 500 pip move down, with 1.3000 as the first major target.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Trade active
GbpUsd rejected hard from the level of resistance and is now trading 150 pips under
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.