GBPUSD / H1 / Daily Forex Technical Analysis / 5.1.2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 1st, 2019 and we will be taking a look at the British Pound against the U.S. Dollar. Looking at the 1 hour time frame we would like to see a breakout of the previous highs near 1.304 zone with a bullish close above these highs to confirm an opportunity to take a Long. Once we see that close beyond the highs we can look to enter a Long position near the 1.30501 area, with a Stop Loss near the 1.30222 region. With a profit target level near the highs of 1.31070 to possibly ensure a profitable trade with a 2.04 to 1 R/R.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.