Gbpusdbuy
Signal with distant target #GBPUSDEvery currency against the dollar is given a new review after the latest news (the Fed yesterday).
After we reach target 1.2510, we change our sell signal to buy signals because we are close to support as seen in the above chart, the target may be as soon as the Pound approaches resistance, we recommend target at 1.2915 just before moving average 200.
GBPUSD at DEMAND ZONE: Possible BIG BUYWe have seen a persistent weakness in GBPUSD for the last 2 months due to Brexit related jitters. I believe markets have priced in a NO DEAL scenario for Brexit which is why GBPUSD is now consolidating at the demand zone.
That being said, any kind of positive development in UK politics will surely push the Pound higher versus its counterparts.
GBPUSD is now at a STRONG DEMAND ZONE. In the previous occasion, GU has made a very strong recovery from this area.
Yesterday's daily candle looks promising as well.
If price doesn't break the 1.24500 area, Traders can look for BUYs between 1.2490-1.2550 area with SL below 1.2410.
TPs can be set at 1.2750, 1.2930, 1.3080 and 1.3400 respectively. This is a long-term set-up of course.
But even now, this set-up is relevant.
GBPUSD LOOKING GOOD FOR BUYERS We have seen this pair show some great bearish momentum. We can see price reached some support and moved bullish creating what we refer to in classical technical terms as an inverse head and shoulders pattern. Price pulled back 50% where i have plotted the grey line and from here we may see a continuation of the bullish move.
Grey line - entry
Red line - stop loss
Green line - Take profit
Hit that follow button for more analysis and education :)