With the resistance in place for GBPUSD, 1.3975 is an interesting level which will be tested by bulls to break and try to takeover the elusive 1.4000 psychological level.
However, the bears can have the upper hand and drive the price back to 1.38 area.
With the price now around 1.3925, our bias is to stay short GBPUSD and catch 75 to 100 pips.
However, the bears can have the upper hand and drive the price back to 1.38 area.
With the price now around 1.3925, our bias is to stay short GBPUSD and catch 75 to 100 pips.
Note
After publishing our Trade Idea, the pair fell from 1.3925 to 1.3875 and now it is back up to 1.3915.We need to watch 1.3935 to 1.3950 being a range point.
Trade closed: target reached
75 pips target reached
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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.