GBPUSD buy opportunity
GBPUSD has been in an upward trend for a long time, so we are rather looking for a LONG trade opportunity on this pair.
After a strong increase in the second half of January 2018 and the new peak at 1.4350, price has made correction to the 1.3770 level. Then the price tried to go higher, but it was failed and the price returned to 1.3800, where the support is retesting. There may be a good opportunity in zone 1.3770 - 1.3800 to open BUY.
We are aware that in this place many people could open the LONG transactions, so before price will go to new high, it could go under 1.3770 to hit Stop Loss of just opened LONG orders and then will go up.
After a strong increase in the second half of January 2018 and the new peak at 1.4350, price has made correction to the 1.3770 level. Then the price tried to go higher, but it was failed and the price returned to 1.3800, where the support is retesting. There may be a good opportunity in zone 1.3770 - 1.3800 to open BUY.
We are aware that in this place many people could open the LONG transactions, so before price will go to new high, it could go under 1.3770 to hit Stop Loss of just opened LONG orders and then will go up.
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.