British Pound / U.S. Dollar

Short

GBPUSD: Tight Ranges Lead to Large Expansions

By DenisRisticFX

Updated

GBPUSD is trading in a tight range. I expect range trading to continue until Wed's heavy news day where I think the pair could run above the recent highs for a stop run before turning lower.

Note

Just like the USDCAD, Cable is being held in consolidation. Looks bearish.

Note

Short target 1 low at 1.3360 reached. Will price reach for 1.3161 level?

Note

GBPUSD continues to look heavy with downside objective aimed for 1.3161 level.

Trade closed: target reached

Target 3 reached on May 7. Trade is complete.

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