GBP/USD: pound is resuming the trend

GBP/USD: pound is resuming the trend

Recommendation:

BUY 1.4245

SL 1.4190

TP1 1.4350 TP2 1.4450 TP3 1.450

On the daily chart, GBP/USD keeps forming 5-0, “Shark” and AB=CD. A pullback to 50% of the wave CD of 5-0 pattern allowed to form long positions with targets at 113% and 127.2% of the “Shark” and AB=CD. To continue the rally, the pound needs to overcome resistance at 1.4250.

GBP.png 

On H1, there are “Wolfe waves” and “Crab” patterns. The interim target is located at 127.2% of the latter at 1.45. The 200% target of AB=CD is also nearby.

GBP2.png

gbp

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