GBPZAR
GBPJPY SHORT, 380 pipsOn the daily timeframe, price broke the channel and retested an important Fibonacci level (61.8). To execute this trade we have to wait for a break and close under 141.427 because it was our previous resistance and now acting as current support. Our take profit will be set at 137.583 which totals up to 380 pips. Stop loss will be set at 148.243
Analysis on GBPZAR 1.11.2019The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 19.7000
• Take Profit Level: 20.0000 (3000 pips)
If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 19.4500
• Take Profit Level: 19.4000 (500 pips)
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