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GBPUSD broke down 1.34 which is it's long term support so strong during brexit. Ever since, it was trying to come up but it wasnt unable to hit the 1.34 region again which means that the sellers are overtaking the buyers still easily, which means that the bearish run is not yet completed. Currently, last month 1.27 region is the price action to look for. If it gets broken easily this month, then 1.24 region will be the next price to focus. As all said, it's better to not counter trend and follow…
ijayakumar's Blog
GBPUSD is ready for the pull back
Great Britain has sold in quite fast pace for last 1 and half months. We can expect a pullback now before it crosses past 1.45 and I expect we would witness a pull back in coming week with two important data, which might print good values for UK.
09:30 GBP Construction PMI (Dec)
09:30 GBP Services PMI (Dec)
Lets see how GBP responds in coming week. Or in worst case, it might continue its sell off!
Anyways don't counter trend unless you get a strong reversal signal. Happy trading!
09:30 GBP Construction PMI (Dec)
09:30 GBP Services PMI (Dec)
Lets see how GBP responds in coming week. Or in worst case, it might continue its sell off!
Anyways don't counter trend unless you get a strong reversal signal. Happy trading!
GBPUSD may form a bearish channel again
Exceeding the expectation, GBPUSD has crossed 1.5270 mark and it touched 1.53 as well. But it couldn't able to sustain there for longer time. Considering many important news events release for USD like GDP, Good order, New home sales, USD may resume it's bull run again if the data exceeds the expectation. Please find the GBPUSD daily chart for analysis,
As the daily chart shows, if the USD resumes strongly from now itself with an engulfing candle, then this pair may for a bearish channel to 1.5…
As the daily chart shows, if the USD resumes strongly from now itself with an engulfing candle, then this pair may for a bearish channel to 1.5…