Gbpusdsell
Gbpusd temporary bull runHi everyone in the TradingView community. I am Rana Sarmad I like to share and talk about trading strategies. If you are a member of my subscribers list and like my ideas, please don't hesitate to let me know by hitting that Like button and growing my notification count!
We are going to discuss about FX:GBPUSD
We can see a markettesting its Suppoort area in H1 or lower timeframe and now trying to test its support near D1 support.
So we are expecting a little strength near its Support or lower support. after this test we will take a Long entry near trendline.
This is my opinion, I really hope this will be useful for you.
This is not a financial advice. Always take trade at your own risk,
Be ready and take care your money. Have a great profit !
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GBP/USD. Short-term recommendation - short.The GBP/USD, bounced from the low of 1.21552, reached a significant level around 1.26400. There is a rising wedge pattern, accompanied by a divergence of the MACD indicator is observed on the H4 chart. Our trading strategy indicators also show "weariness" of buyers. We expect the GBP to fall in the next few days and the working out of the wedge figure.
How to trade.
Sell GBP/USD in short with limit orders in the range of 1.26650-1.26700. Target ranges for closing trades: 1,24100-1,24200; 1,23350-1,23550; 1,21500-1,21600.
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GBPUSD-SELL strategyThe run up from the lows looks like at an end, and I feel that the way the stochastic RSI currently is, that we should see the pair move lower back towards 1.2437.
The strategy is SELL current @ 1.2640-1.2660 area and take profit initially @ 1.2487. If wished for place a stop-loss @ 1.2737.
GbpUsd- Where to sell?Since the recent 1.2180 low, GbpUsd has risen nicely and now the pair is trading at 1.2640.
However, the long-term trend for the pair is grossly bearish and the pair now is facing strong resistance at the 1.27 zone.
Also, the rise from 1.23 is contained in a rising wedge and this can lead to a reversal.
My sell zone for GbpUsd is around 1.27 with negation above 1.28 and I expect a new leg down in the near future