GBPUSD Bearish looking for a retracement 1.57 Target 1.5550
GBPUSD 1.5616
In the hourly time frame, GBPUSD is in a strong bearish bios, looking for a retracement to 1.5690 to 1.5720
Selling this low is aggressive, also buying this low is aggressive
Bears, wait for a retracement to 1.5690 - 1.5720, look for buyers to try to make higher high and fail then short
Target1/ 1.5614, Target2/ 1.5588, Target 3/ 1.5550, be careful, stop loss a well close above 1.5721
(Perfect Risk-to-Reward ratio)
Bulls, It is the time to buy it at 1.5610 with tight stop loss below 1.5550 (note that this is an aggressive counter trend trade)
Look for sellers to try and fail to make lower low at slower time frame
Target1/ 1.5650, Target2/ 1.5690
(not preferred Risk-to-Reward ratio)
In the hourly time frame, GBPUSD is in a strong bearish bios, looking for a retracement to 1.5690 to 1.5720
Selling this low is aggressive, also buying this low is aggressive
Bears, wait for a retracement to 1.5690 - 1.5720, look for buyers to try to make higher high and fail then short
Target1/ 1.5614, Target2/ 1.5588, Target 3/ 1.5550, be careful, stop loss a well close above 1.5721
(Perfect Risk-to-Reward ratio)
Bulls, It is the time to buy it at 1.5610 with tight stop loss below 1.5550 (note that this is an aggressive counter trend trade)
Look for sellers to try and fail to make lower low at slower time frame
Target1/ 1.5650, Target2/ 1.5690
(not preferred Risk-to-Reward ratio)
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.