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Gbpusdsell

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
GBP/USD is too risky for trading, waiting for confirmationstarting with the monthly time frame we are in a clear downtrend and this trend has been broken. so we expect that the price will continue going up. the double bottom formation is completed and we expect that the price will pull back to test the neck of the "W" formation and then going up. that aligns with the string area in the monthly time frame that is treated as a strong support and resistance area, so we are expecting the price will reject it and going down. weekly time frame shows the rejection for the monthly area. the daily chart we are in a strong uptrend and this trend treat the price as support and resistance. so this is too risky right now for trading GBPUSD because we are in a sensitive area. using COT report that shows us how hedge funds and big banks are doing with the currencies, shows they are interested in shorting GBP more than buying it. so we should be careful and drow another small uptrend and waiting for a breakout of it with rejection for the strong monthly area and that will low the risk for our trading. if the price breaks the monthly area and closes above it, then we look for buying opportunities. becareful...
Short
by UnknownUnicorn9076755
GBP/USD in resistance level, possibility of a sell tradeGBP/USD went up quite strongly over the last few days but yesterday, the bulls took a breather. The rally stopped at a familiar resistance level and based on the current price action, there is probability of a further drop. The short-term support at 1.4105 needs to break for the downtrend to accelerate. If this weakness continues, selling GBP/USD@1.4122-1.4150 with SL above 1.4240 and TP at 1.3950 is potential sell signal.
Short
by MarcellusLUX
11
GBPUSD, 4hr tf, wave-3 to the downside As long as price hold below 1.3980 we could expect price to continue going down. Price holding below the descending trendline for now so will try to forecast the movement with elliott wave theory. We're now on the process of wave-3 and this wave will consist of 5 subwaves. This wave-3 could go down towards 1.3660-1.3600. But in order to reach that, price need to closed below 1.3800. It is more convincing if it was daily candle closing below 1.3800. Sell GBPUSD 1.3920 Stop loss 1.3980 (60 pips) Take profit 1.3660 (260 pips) RR ratio 1 : 4.3 Use only 1-2% risk Good luck
Short
by HayatoDragonFX