GBPUSD: BREAKOUT OR NOT

7 Mar

The GBPUSD has maintained a fluctuating pattern within the range of 1.25800 and 1.27700 for over a month. Today, it has surpassed the upper boundary of this range. The question arises: will this upward momentum persist, or are we witnessing a false breakout? If you're engaging in trading, my cautious suggestion (to be taken with a grain of caution) is to wait for the price to retreat towards the 1.27700 level and demonstrate a clear upward trend before considering buying the GBPUSD. For those currently in a trade, it's advisable to set the stop loss at 1.27300, well within the range the price is attempting to break out of. Looking ahead, for the next month, I only foresee buying opportunities for GBPUSD, particularly for long-term traders.

21 Mar

Yorum

Today, the GBPUSD experienced its lengthiest bullish surge since February 1st, surpassing its previous range of 1.25800 to 1.27700. This notable development suggests a high likelihood of the currency pair transitioning out of this established range and venturing into a new zone spanning from 1.27700 to 1.30000. Notably, this zone encompasses a width of 300 pips. For those interested in mastering trading strategies, feel free to connect with me on Twitter for insights and guidance.
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