Let´s Buy GBPUSD and enjoy the correction!
Updated
After a few strong weeks of bearish rally (mostly thanks to brexit) after the price of [symbol = "FOREXCOM: GBPUSD"] FOREXCOM: GBPUSD [/ symbol] broke most of the supports, not only daily, but weekly , at this time is reaching one of the lowest supports since January.
Since May 3 this bearish rally has not entered longs, with minimal corrections we did not see purchase possibilities, however that panorama changed yesterday, when the price decided to have some resistance at the level of 1.27188 [/ b] This being a good daily purchase level, apart from that, we see a loss of bearish momentum when the price makes a double floor at this level, we wait for a confirmation of a candle that bursts this level upwards and we enter long up to 1.27871 or up to the trend line approximately, placing our stop loss at 1.26735.
In case the price wants to look for a resistance below, we program a buy limit at the next lower level 1.26819 [/ b] with the stop loss at 1.26550
Happy profits! Use risk management.
Since May 3 this bearish rally has not entered longs, with minimal corrections we did not see purchase possibilities, however that panorama changed yesterday, when the price decided to have some resistance at the level of 1.27188 [/ b] This being a good daily purchase level, apart from that, we see a loss of bearish momentum when the price makes a double floor at this level, we wait for a confirmation of a candle that bursts this level upwards and we enter long up to 1.27871 or up to the trend line approximately, placing our stop loss at 1.26735.
In case the price wants to look for a resistance below, we program a buy limit at the next lower level 1.26819 [/ b] with the stop loss at 1.26550
Happy profits! Use risk management.
Note
I forgot to mention, but take a look at the stochastic osscillator, we may see a little correction before the bullish time!
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