GBP/USD: pound is suffering

GBP/USD: pound is suffering

Recommendation:

SELL 1.2730

SL 1.2785

TP1 1.2630 TP2 1.2570 TP3 1.2080

On the daily chart, GBP/USD is forming a “Spike and reversal with acceleration”. Bears are dominating at the market. As long as the pair is below the trend line of the initial stage at 1.2920, it’s recommended to sell the pound on the recoveries.

GBPUSD daily.png 

On H1, GBP/USD bears reached targets of the “Shakout-Fakout” pattern. If the pair returns to the middle of the 1.2730-1.2790 consolidation range, it will be time to sell. There’s also reason to use the retest of resistance at 1.2730 for selling.

GBPUSD h1.png

Similar

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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.

Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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