GBP/USD - Sell
I have done some analysis on GBP/USD I think that long term it is a sell trade but if you're looking at getting a few pips then It might be worth putting a buy trade on I'll put more info below on if you're wanting to buy
From looking at the chart I think that the price action will continue on a bearish trend until it hits the support zone which it will test and bounce off and head back towards the trendline this will be a good opportunity to buy in providing that you see the correct charting pattern confirmation to get a good entry point. Support zone starts at 1.2860 set yourself a price alert for when the price action hits this.
Once it has hit the zone and headed back towards the trendline it will test the trendline and bounce back off it and this is where I will be looking for my entry. I will be looking for charting patterns and candlestick formations to confirm that it is the right time to enter. Below are roughly where I may enter this trade.
EP: 1.3060
SL: 1.3269
TP: 1.2800
The EP and TP may adjust according to the charts and where see it to be a good entry these are just rough estimates
Let's see how this one plays out...
From looking at the chart I think that the price action will continue on a bearish trend until it hits the support zone which it will test and bounce off and head back towards the trendline this will be a good opportunity to buy in providing that you see the correct charting pattern confirmation to get a good entry point. Support zone starts at 1.2860 set yourself a price alert for when the price action hits this.
Once it has hit the zone and headed back towards the trendline it will test the trendline and bounce back off it and this is where I will be looking for my entry. I will be looking for charting patterns and candlestick formations to confirm that it is the right time to enter. Below are roughly where I may enter this trade.
EP: 1.3060
SL: 1.3269
TP: 1.2800
The EP and TP may adjust according to the charts and where see it to be a good entry these are just rough estimates
Let's see how this one plays out...
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