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Gbpusd_forecast

GBP/USD struggles to break the resistance,pullback possible!Hello traders, in my previous idea, I recommended selling GBPUSD between 1.4195-1.4220 with SL above 1.4307 and initial TP at 1.3950. (previous idea linked below). So, you might have earned 130+ pips profit when GBP/USD dropped to 1.4080 last week. Currently, the GBP/USD bulls have not been able to break the 1.4230 resistance. So, a moderate pullback towards 1.39 is possible. I recommend selling the rallies between 1.4165-1.4220 with SL above 1.4250 and TP at 1.3900.
Short
by MarcellusLUX
8
Gbp/Usd : Eyeing 1.4400-1.14500 handle ( April 2018 High/Top)Speculative sentiment index is less than 20% for Gbp pairs , hence more upside movement is likely . Technically, Gbp/Usd aiming at testing the 2018 high around 1.4400 handle. A lot of Sell limit orders will get executed from that level since is the major resistance and top of the range since many years . Trend : Up Signal (pending) : Sell limit 1.4400-1.4550 Stop Loss : Manual above 1.14650 Target : 1.35xx ( Fib support)
Long
by UnknownUnicorn13514545
1
Make or break level for the sellers, will they make it?GBP/USD is currently at the critical level. The area around 1.42 was instrumental in bringing down the price last time. So, do the sellers have a chance? We are looking for some strong bearish price action in this resistance level, which will indicate the presence of sellers. If strong bearish price action happens here, a sell entry@1.4190-1.4225 with SL above 1.43 and TP at 1.3780 would be a possible sell signal. However, a strong break above the resistance level will indicate that the uptrend will continue.
by MarcellusLUX
7
Weekly chart shows the possibility of a big correction in GBPUSDGBP/USD is in a historical resistance level. The recent rally has stopped at this historical resistance. So, there is a possibility of a big correction in GBP/USD. Since, we are looking at the weekly chart, it may take many weeks to play out. Nevertheless, the current scenario gives us a good opportunity to sell GBP/USD at this strong resistance level with a big TP and small SL. So, keep an eye on the smaller time frame and watch out for bearish price action. Selling between 1.4100-1.4300 with SL above 1.4400 and TP at 1.33 based on the weekly chart is a good idea.
by MarcellusLUX
9