GBPUSD long term outlook.

Updated

GBPUSD is currently in a downtrend and I expect the price to Break support 1.23600 to 1.20000 where I see the price getting support.

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GBPUSD dropping nicely towards the 1.2000 support level

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GBPUSD just 80 pips away from my target.
@1.20000 Is where I expect price to get stability which may help Support the pair for upward moment torwards 1.23500, if it decides to drop below we will be ready for it but from 1.20000 I longs.

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The price perfecty bounce on 1.20642 just 60 pips shy from 1.20000.
From this point on I expect the to be bullish

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+/-120 pips away from resistance 1.23500

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About to hit 1.23500 the area where we expect price to drop again. Between 1.2
500 to 1.24176 that's where we will be looking to observe and wait for the price to close Below 1.23500 where we aim to enter our sells

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1.23900 looks like where the price might drop

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price dropped 50 pips below the area I was expecting the drop. For now sellers are still in control and might start losing selling power from 1.20900

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1.20850 Is where I expect the bulls to take control of the price to take the pair up and hopefully the bulls will be strong enough to break the minor resistance we have at 1.23500-1.24000.

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We are getting ready to buy...

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Now we let's watch the bulls as they take is to our main target.

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The price is currently in a trading in a range as a result make presenting us with some new insights about the price. The bears are still in control and the pair at risk of further decline to 1.20650. We are currently in with buys at 1.20900

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Support level unbroken giving us confidence to hold our buys

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Now that we are above 1.24000 we now target 1.26850 after we retest area 1.24000 then we rise with it.

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The price seem to have gathered enough strength to remain above 1.24000 closing above the area on Thursday and Friday. Now our next target is 1.26800

Trade active

Entered few more buys as the bulls seem to have full control of the trend, the price is currently trading at 1.25000 region just 168 pip away from our next target.

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70 pips remain to reach our target

Trade closed manually

Closed all my shorts

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Bears now targeting to push the price in the 1.24000 region

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Price fail to break support 1.25000, with FED and BoE fueled the price up to 1.28000 with the FED hinting possible cuts while the BoE left the rates unchanged, so with that GBPUSD is expected to drop to 1.25300 before proceeding with the uptrend with a 1.30000 being the next target.

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1.26100 seems to be a very stable with the NFP not strong enough to break below after this level, now we wait for 1.30000

Anonymous_Joker

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