GBP/USD: pound is afraid of a “Shark”

GBP/USD: pound is afraid of a “Shark”

Recommendation:

SELL 1.3340

SL 1.3395

TP1 1.3255 TP2 1.324 TP3 1.3225

On the daily chart of GBP/USD, the “Double top” is transforming into 5-0. The inability of bulls to get above resistance at 23.6% of the wave CD and return to the 1.3455-1.3615 consolidation range points at their weakness. To develop correction to the long-term uptrend, bears need to renew May low.

GBP1.png 

On H1 of GBP/USD, a decline below support at 1.3340 will increase the risks of a “Shark” pattern with a target of 88.6% near 1.3225.

GBP2.png

Similar

How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

Latest news

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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