GBP/USD: pound is losing ground

GBP/USD: pound is losing ground

2019-11-11 • Updated

Recommendation:

SELL 1.3850

SL 1.3905

TP1 1.375 TP2 1.3645 TP3 1.358

On the daily chart, GBP/USD is consolidating in the 1.3820-1.4050 range within the “Spike and ledge” pattern on the basis of 1-2-3. A break of its lower border will allow bears to continue correction towards 88.6% of the “Bat”. On the other hand, advance above resistance at 1.4050 will lead to the uptrend’s resumption.

GBP1.png 

On H1, GBP/USD after forming “Wofle waves” and a pullback from the upper border of the downtrend channel bears are ready to continue the decline.

GBP2.png

Similar

Top Three Trade Ideas for December 2023
Top Three Trade Ideas for December 2023

Hey folks, it’s a wrap to yet another month in the 2023 calendar, and I’m guessing you know what that means - time for another episode in the “What To Trade” series. For December, I will be mapping out trade more cautiously as the market volatility often drops

Can JPY Reach New Lows By the End of 2023? 
Can JPY Reach New Lows By the End of 2023? 

Speculation persists regarding the Bank of Japan's potential departure from negative interest rates, yet the USD/JPY maintains its position within a 150–152 range for seven consecutive sessions. Caution is warranted due to a weaker-than-expected Q3 GDP, a slump in imports, and...

Latest news

Bitcoin 2024: The Story Is Cyclical
Bitcoin 2024: The Story Is Cyclical

In the dynamic world of financial trading, understanding the nuanced relationship between the Federal Reserve's key interest rates and Bitcoin can be a game-changer…

Will NFP Be Positive for the US Dollar?
Will NFP Be Positive for the US Dollar?

As the US Non-Farm Payrolls (NFP) take center stage, this month's data gains special attention, particularly after the unemployment rate took a concerning turn in the previous month. The US ADP Employment Change reveals a significant decline, with the economy adding 298K new jobs...

Deposit with your local payment systems

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

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!

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