Analysis on #GBPUSD
Similar to my EURUSD analysis for today The GBPUSD formed bearish trend line resistance started at 1.3640 price level before starting the move down, I suspect we could have a relief rally to test this trendline again near the 1.3280-1.3300 key resistance level which previously was a support level.
>> If the market test my trend line resistance level and key resistance zone then I will wait for the market to turn bearish on the lower time frame looking for a reversal pattern, before entering a selling trade with a good risk to reward if the entry rules are met.
⚡we need to be extra careful, markets are not respecting technical analysis due to current world circumstances
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Dear Traders, the best "T h a n k Y o u" will be your likes and comments!
Thanks for your continued support!
________________________________________
Disclaimer: This information is not a recommendation to buy or sell. It is to be used for educational purposes only*
Similar to my EURUSD analysis for today The GBPUSD formed bearish trend line resistance started at 1.3640 price level before starting the move down, I suspect we could have a relief rally to test this trendline again near the 1.3280-1.3300 key resistance level which previously was a support level.
>> If the market test my trend line resistance level and key resistance zone then I will wait for the market to turn bearish on the lower time frame looking for a reversal pattern, before entering a selling trade with a good risk to reward if the entry rules are met.
⚡we need to be extra careful, markets are not respecting technical analysis due to current world circumstances
________________________________________
Dear Traders, the best "T h a n k Y o u" will be your likes and comments!
Thanks for your continued support!
________________________________________
Disclaimer: This information is not a recommendation to buy or sell. It is to be used for educational purposes only*
