GBP/USD: the British pound may recover

GBP/USD: the British pound may recover

Recommendation: BUY 1.2795 SL 1.274 TP1 1.2895 TP2 1.291 TP3 1.3065, SELL 1.265 SL 1.2705 TP1 1.257 TP2 1.247 TP3 1.226

On the daily chart of GBP/USD, the 88.6% target of the “Bat” pattern was reached. This situation increases risks of the rebound. On the other hand, a break of the August minimum near 1.2650 level will activate the AB=CD pattern with the 161.8% target.

1.png

On H1 of GBP/USD, a break of the diagonal resistance could signal the correction towards 38.2%, 50%, 61.8% from CD wave of the “Bat” pattern. If it happens, the price for the pair can go out of the downward channel.

2.png

gbp

Similar

XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

Latest news

The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

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