GBPUSD : The edge 9.5

9 May 2022

Let's keep it simple and understandable.

2007-2020 lower high descending trend-line which was broken to up-trend Mid 2020.
Currently between 1.198-1.2250 is the retest range of this breakout and up-trend support.
The bounce from the retest may take GBPUSD to 1.2680 quickly on it's route back to the weekly trend breakout.

At the same time, we have a high potential bullish reverse head and shoulder that is forming around the retest area as a second shoulder.

The Dollar is stretching around extreme overbought conditions and historical horizontal level of resistance.
This is in line with the retest which is currently ongoing.

Make informed decisions trading and always consider the bigger picture.

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16 May 2022

İşlem aktif

1.217 was the lowest point reached and is possible within the retest zone of the breakout up!
Lowest expectation remains at 1.198.
Upside is far more significant with projecting of 1.2680 possibly by weeks range.

24 May 2022

İşlem aktif

Keeping above right shoulder and bullish! 1.268 within immediate reach :)

30 May 2022

İşlem aktif

Very close to 1.268! Only 50 pips away currently trading at 1.263
That's about 500 pip of a catch in 16 trading days.

7 Şub 2023

İşlem kapandı: durdurma seviyesi

Caught movement of 500+ pip but missed 1.268 by about 40 pip.
Overall great trade with reach slightly less than expected