GBPUSD - Bearish correction
G’day Traders,
Just like majority of GBP pairs we had nice bullish push at the start of the week. GBPUSD is respecting a very strong historical resistance on Daily and 4hr. This is a great place for buyers to take profit. Now we are waiting for a correction/pullback to the support, ideally to the 50 – 61.8% fib where we have the retest of the channel along with strong level of support which give us a good level of confluences for us to look for long positions. For seller who caught the bearish push the confluences area will be good place to take profit.
Trading is a marathon not a sprint!
Good luck traders.
Lenin
Just like majority of GBP pairs we had nice bullish push at the start of the week. GBPUSD is respecting a very strong historical resistance on Daily and 4hr. This is a great place for buyers to take profit. Now we are waiting for a correction/pullback to the support, ideally to the 50 – 61.8% fib where we have the retest of the channel along with strong level of support which give us a good level of confluences for us to look for long positions. For seller who caught the bearish push the confluences area will be good place to take profit.
Trading is a marathon not a sprint!
Good luck traders.
Lenin
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.