GBPUSD bulls are poised to push through 1.3200 and 1.3500 resistance, in the short-medium term. It is still consolidating within a potential triangle since 1.2485 highs and might terminate Wave 4 around 1.2340/50 levels either today or tomorrow. Thereafter, the rally could resume towards 1.3200, which is immediate resistance. We have adjusted the trend based fibonacci extensions by changing the boundary and the 0.618 extension is now pointing towards 1.3100, pretty close to resistance. The structure remains bullish as long as prices remain above 1.1414 lows, going forward.
Strategy:
Long against 1.1414, targeting 1.3200, 1.3500.
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Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Long against 1.1414, targeting 1.3200, 1.3500.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
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.
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.