GBP/USD: pound made a stop

GBP/USD: pound made a stop

Recommendation:

BUY 1.4240

SL 1.4185

TP1 1.434 TP2 1.4435 TP3 1.4525

On the daily chart, GBP/USD bulls came close to 113% target of the “Shark”.  The counterattack of bears didn’t discourage the pound, because so far as it’s trading above $1.41 (the lower border of the uptrend channel), the situation is controlled by the buyers.

GBP1.png 

On H1, GBP/USD is moving within uptrend channel towards the 200% target of AB=CD. Pullbacks with the further rebounds from support may be used for buying.  

GBP2.png

 

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Check USD/TRY

USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp

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