GBPUSD in it's danger zone
Updated
Bouncing off to close at 1.28833 from a new low of the week at 1.2776 , which is also a major resistance on the daily on 21st June 2016, is in its ''no trade zone'' currently.
RSI is bearish bias on the 4h, but has plenty of room to move further upside on the daily chart.
1.2776 also happens to be one of the support on the channel up as show above.
the highs of 1.2889 on friday also happens to be 23.6% on fibo with a bounce back downwards which might be a potential bearish flag.
mixed interest currently, so the best advice is to be patient to wait for a movement before trading this pair.
looking to long at 1.29210
1st TP: 1.29621
2nd TP: 1.30231
looking to short at 1.28440
1st TP: 1.2777
2nd TP: 1.27092
RSI is bearish bias on the 4h, but has plenty of room to move further upside on the daily chart.
1.2776 also happens to be one of the support on the channel up as show above.
the highs of 1.2889 on friday also happens to be 23.6% on fibo with a bounce back downwards which might be a potential bearish flag.
mixed interest currently, so the best advice is to be patient to wait for a movement before trading this pair.
looking to long at 1.29210
1st TP: 1.29621
2nd TP: 1.30231
looking to short at 1.28440
1st TP: 1.2777
2nd TP: 1.27092
Note
long entry triggered @ 1.29210Trade closed: target reached
1st tp of long reached. got some pips before drop to current priceNote
Price stood above 1.29 , had a long position last week till now , and took profits just an hour ago at 1.3021. Pips anybody ?
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