GBP/USD has a chance

GBP/USD has a chance

Trade ideas

BUY 1.2410; TP 1.2500; SL 1.2385

SELL 1.2275; TP 1.2110; SL 1.2300

The fate of the British pound is very uncertain because of the Brexit question. So far, Prime Minister Boris Johnson remains determined to take the UK out of the European Union no matter what, although there are reports that he may soften his stance. The technical setup for GBP/USD allows expecting a rebound. Last week the pair tested the long-term lows in the 1.1960 area but then recovered forming a candlestick with a long lower wick on the W1. A similar situation happened at the end of 2018 and was followed by a significant recovery. To get to higher levels this time, GBP/USD will have to rise above 1.2400. The first target will be at 1.25 (near the declining 100-day MA). A bigger relief will open the way up to 1.2700. 

As for the downside, GBP/USD has recently found support at 1.2285 (50-day MA, late August highs). In the alternative scenario, the decline below this level will bring the pair down to 1.21.

gbpusd.png   

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera