Last week I draw attention to the strong 1.14 support for GbpUsd and the possibility of reversal. Also, in these previous posts, I said that a small inverted H&S can be in place, and 1.16 is confluence resistance given by the neckline and the falling descending trend line. As expected, the pair broke above this zone and accelerated its gains to a recent top of around 1.17 so far. However, in my opinion, this is just a correction and GbpUsd should resume its downtrend soon. 1.1750-1.18 is strong resistance and in this zone, I will look for trading opportunities.
Note: If you choose to trade this pair keep in mind its extreme volatility and the bad habit of spiking through support and resistance levels
Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.