GBPUSD retest of trendline with fib confluence
Hi traders,
The GBPUSD has broken the bullish trendline this week. The 1.406ish area has been tested a few times now. For the coming week I am expecting a retracement back to this trendline, from where we can enter a short position.
Entrypoint may vary, but will probably be close to the 1.428 area. Depending on how fast the market moves.
NOTE: JUST SHARING THIS IDEA, NOT ACTUALLY TRADING THIS ONE DUE TO IT BEING A GBP PAIR
Entry: 1.420 (Or at the retest of the trendline)
Stop: 1.428
Target 1: 1.407
Target 2: 1.3864
Best of luck!
The GBPUSD has broken the bullish trendline this week. The 1.406ish area has been tested a few times now. For the coming week I am expecting a retracement back to this trendline, from where we can enter a short position.
Entrypoint may vary, but will probably be close to the 1.428 area. Depending on how fast the market moves.
NOTE: JUST SHARING THIS IDEA, NOT ACTUALLY TRADING THIS ONE DUE TO IT BEING A GBP PAIR
Entry: 1.420 (Or at the retest of the trendline)
Stop: 1.428
Target 1: 1.407
Target 2: 1.3864
Best of luck!
Trade active
Trade closed: stop 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.
Related publications
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.