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Gbpusd_forecast

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
GBPUSD bullish trending MarketHERE in GU you can see, we've a bullish trend in which market is hitting the trendline from where it bounce so due to the history we're taking the trade from that area which is expected to be the last bounce in this bullish trend which end up on the resistance. So there are many thing to be pointed out & the things which will make this bounce to happen is that first we've bullish trend so from certain trendline market is bouncing then we've Double bottom as a W-shaped formation so in such situation market will also bounce from over here & then we've seen the market tested this area & rejected to fall down from support area so its reversal which is in favor of bullish move & the most important thing is that this correction over here occurs for the rejection into the bearish move so due to this sign of rejection will make it possible to become bullish for long approx 300 pips. I HOPE YOU'VE UNDERSTAND THIS LAST BULLISH MOVE OF THIS TREND VERY WELL.
Long
by PiPumer