Trading in the GBP/USD band
This week the GBP/USD pair has seen the formation of a band with clear boundaries, with the support level at 1.51620 and the resistance level at 1.52600. For this reason, we’ll be looking for buy or sell signals when the pair approaches one of the boundaries of the band. In parallel with these boundaries, a much narrower band shaped up, with the point of support at 1.52 and that of resistance at 1.52400, so a buy or sell point could be found earlier, but I suggest launching positions not when the pair bounces off the narrow corridor, but when it breaks out of it.
I trade using techniques for the GBP/USD pair. Boundaries of the trading band are defined using the latest highs on the hourly chart.
My forecast participates in the Market Forecaster contest. Follow the link
s30655641881.whotrades.com/blog/43536627905
to vote for it and help me win the top prize. Thank you.
I trade using techniques for the GBP/USD pair. Boundaries of the trading band are defined using the latest highs on the hourly chart.
My forecast participates in the Market Forecaster contest. Follow the link
s30655641881.whotrades.com/blog/43536627905
to vote for it and help me win the top prize. Thank you.
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