Hello fellow traders,
GBPUSD has been struggling at 1.370x for some weeks and was rejected finally last Friday trading session; a pullback was then occurred to a further lows price level and we expect for a further downside, namely to the support zone range from 1.345x to 1.3511.
For a short term trading strategy this week, we prefer to short by bouncing to the 1.360x price handle, if the price finds resistance there:
Risk zone for this short has been detected at 1.367x (conservative risk for short term). Price target will be at 1.345x, anyway maximize your trading skill to manage the short, if it turns in your favor.
Trade well!
M.
GBPUSD has been struggling at 1.370x for some weeks and was rejected finally last Friday trading session; a pullback was then occurred to a further lows price level and we expect for a further downside, namely to the support zone range from 1.345x to 1.3511.
For a short term trading strategy this week, we prefer to short by bouncing to the 1.360x price handle, if the price finds resistance there:
Risk zone for this short has been detected at 1.367x (conservative risk for short term). Price target will be at 1.345x, anyway maximize your trading skill to manage the short, if it turns in your favor.
Trade well!
M.