GBP/USD

Good morning everybody !


So for today i'm posting one of my ideas !


So I start with a short analyse on H1 at 1.29800 the price hit fibbonaci 0.0 Level and react, in go down.

On H4 we have a descendent trend line and meet and other trend line which act as a S/R

The pair could indicate that the price may test those upside border at 1.29800 but to confirm further ascending movement is the price’s rebounding from the support level. In this case it could reach 1.3105.

However, the scenario that implies further growth may be canceled if the price test upside border at 1.29800 and fixes below 1.2765.

In this case, the pair may continue falling towards 1.29685.

After breaking the descending channel’s upside border and fixing above 1.3110, the price may resume moving upwards.


So a little review,

For Short :
- ENTRY @ 1.29760 - 1.29700.
- TAKE PROFIT @ 1.2685
- STOP LOSS @ 1.29900

For Long :
- ENTRY @ 1.29900
- TAKE PROFIT 1.3100
- STOP LOSS - 1.2800

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Have a great day and hope you will end this week on profit !

Many thanks for you attention !