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GBP/USD mark: 1.31881
Forecast: hold on or sell
H4 Key points:
Top Resistance: 1.33000
1st Resistance: 1.32200
1st support: 1.30845
Support/Floor: 1.30500
On 4H timeframe we can see a big channel between 1.30500 e 1.33000 and a second one smaller given by Donchian Channel between 1.32200 and 1.30845. The price is also at the middle of the bigger channel. In this circumstancies we should to hold on and stay out of trading the cross. Because we are on contest environment we have to bet. In such case the best option is sell. An interesting bearish candle is already clean and STOCHASTIC figure is telling us that probably the price is starting its downside movement until the base of the Donchian channel.
Conclusion: trade another cross with more expectable figures or sell GBP/USD if you really want to trade it.
Forecast: hold on or sell
H4 Key points:
Top Resistance: 1.33000
1st Resistance: 1.32200
1st support: 1.30845
Support/Floor: 1.30500
On 4H timeframe we can see a big channel between 1.30500 e 1.33000 and a second one smaller given by Donchian Channel between 1.32200 and 1.30845. The price is also at the middle of the bigger channel. In this circumstancies we should to hold on and stay out of trading the cross. Because we are on contest environment we have to bet. In such case the best option is sell. An interesting bearish candle is already clean and STOCHASTIC figure is telling us that probably the price is starting its downside movement until the base of the Donchian channel.
Conclusion: trade another cross with more expectable figures or sell GBP/USD if you really want to trade it.
