Strifor || GBPUSD-Week Starting
Updated
Preferred direction: Neutral
Comment: The British currency is under the strongest pressure from the US dollar among all majors at the moment. In the medium term, the currency pair can be bought, but a more conservative entry will be at the level of 1.22500, where the nearest support area is located. But even here one will need to wait for a clear signal for a reversal. So far, the pound has not shown anything close to this, and if there is growth, it will be sharp, not tied to any level or support area.
The best option is to put the pound aside and focus on the euro, Australian and so on. If we still consider the entry, the best option according to scenario №1 is indicated on the chart. Scenario №2 is about a conservative entry with a small volume and gradual accumulation of a long position as the price decreases.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: The British currency is under the strongest pressure from the US dollar among all majors at the moment. In the medium term, the currency pair can be bought, but a more conservative entry will be at the level of 1.22500, where the nearest support area is located. But even here one will need to wait for a clear signal for a reversal. So far, the pound has not shown anything close to this, and if there is growth, it will be sharp, not tied to any level or support area.
The best option is to put the pound aside and focus on the euro, Australian and so on. If we still consider the entry, the best option according to scenario №1 is indicated on the chart. Scenario №2 is about a conservative entry with a small volume and gradual accumulation of a long position as the price decreases.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
Trade active
⚡️New ideas for AUDUSD, NZDUSD and SILVER⚡️
Trade closed: target reached
Comment
⚡️New ideas for EURUSD, GBPUSD and USDCHF⚡️
Trade closed: target reached
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