GBP/USD failed at resistance

GBP/USD failed at resistance

2019-11-11 • Updated

Trade ideas

SELL 1.2645; TP 1.2600; SL 1.2665

GBP/USD got once again rejected down from 1.2760. The 50-day MA is having a bearish bias and creating further resistance at 1.28. On H4, we see that support is provided b the 50-period MA at 1.2650. The decline below this level will confirm a temporary top and open the way down to 1.26. 

Resistance lines in the 1.2715/25 area. Only above these levels GBP/USD may once again try to retest this week’s highs. 

The pair will be affected on the intraday basis by British Inflation Report hearings and US durable goods orders.

GBPUSD H4.png

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