GBPUSD - Bearish correction
G’day Traders,
Just like majority of GBP pairs we had nice bullish push at the start of the week. GBPUSD is respecting a very strong historical resistance on Daily and 4hr. This is a great place for buyers to take profit. Now we are waiting for a correction/pullback to the support, ideally to the 50 – 61.8% fib where we have the retest of the channel along with strong level of support which give us a good level of confluences for us to look for long positions. For seller who caught the bearish push the confluences area will be good place to take profit.
Trading is a marathon not a sprint!
Good luck traders.
Lenin
Just like majority of GBP pairs we had nice bullish push at the start of the week. GBPUSD is respecting a very strong historical resistance on Daily and 4hr. This is a great place for buyers to take profit. Now we are waiting for a correction/pullback to the support, ideally to the 50 – 61.8% fib where we have the retest of the channel along with strong level of support which give us a good level of confluences for us to look for long positions. For seller who caught the bearish push the confluences area will be good place to take profit.
Trading is a marathon not a sprint!
Good luck traders.
Lenin
Feragatname
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