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Gbpusdsell

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 still at resistance level, possible sell set-upHello traders, in my previous GBP/USD ideas, I recommended selling GBPUSD in the 1.4210 resistance level ( previous idea attached below). Currently, the price action is neutral in the said resistance level . That being said, we are getting multiple bearish daily candles with wicks at the top which indicates that sellers are still in the picture. So, if this bearishness persists, look for sells in the resistance level between 1.4195-1.4220 with SL above 1.4307 and initial TP at 1.3950. Keep in the mind that the more a price consolidates in a support or resistance level, the probability of that support or resistance breaking increases.
by MarcellusLUX
6
Bearish price action in the resistance level, GBP/USD may fallHello traders, in my previous GBP/USD idea, I recommended selling GBPUSD in the 1.4210 resistance level( previous idea attached below). Currently, the bearish price action is gaining momentum in the said resistance level. We are getting multiple daily candles with wicks at the top which indicates that sellers are slowly gaining control. So, if this bearishness persists, look for sells in the resistance level between 1.4165-1.4220 with SL above 1.4257 and initial TP at 1.3950.
Short
by MarcellusLUX
14
GBP/USD faces strong hurdle at resistance, possibility of a fallGBP/USD bulls tried to break the 1.4230 resistance level but failed to do so. So, there is a possibility of a drop in GBP/USD in the coming days. The last daily candle is a bearish one with a long wick at the top. So, for the time being, the sellers have gained control. If this continues, there is a likelihood of GBP/USD reaching 1.40 or even lower in the next few days. A sell entry@1.4160-1.4210 with SL above 1.43 and TP at 1.3830 is a possible sell signal if bearish price action in the lower TFs continue.
Short
by MarcellusLUX
7