fbpx

Where is GBP/USD Heading…

WHERE IS GBPUSD HEADING…

Welcome to this week’s newsletter!

Before we get into it click here to follow free regular updates of the markets:

WHERE IS GBPUSD HEADING?

GBP/USD to remain bullish after breaking through the key level of 1.3750, is there a strong possibility we move to 1.4?.

But where is the currency pair heading?

The current weekly candle close was a bullish close above the previous key level of 1.3750 showing price wants to find higher price. Therefore we expect the GBP/USD to remain bullish. When trying to identify where the market will move to next always look left. When looking left we can see a large consolidation pattern followed by a strong downtrend. This suggests that should price enter this price zone again we could expect sellers to enter the market again and therefore see a move lower from 1.4.

The most traded level through this area is 1.3977, we define this by the daily closing prices , opening prices and tips of wicks all interacting at the price point. This could be a level for the market to test before we can determine its next move, lower or higher.

The 4hr timeframe could offer short-term long opportunities should we see a correction back to the previous lows of 1.3785 or if the price breaks higher first we could look for an opportunity on a re-test of the current swing highs of 1.3866.

If you would like to be part of a trading community that supports you 24/7 with live trading rooms throughout the week and a 24/7 Mastermind group click here to join.

FREE TELEGRAM CHANNEL…see you soon.
If you are interested in the Live Traders Club and how it can help you become a better trader, please click the link!

Want to see regular free technical analysis? Click here and subscribe!

Testimonials

Malcolm
Royston
Jody
Jack
Yotko
Malcolm
Royston
Jody
Jack
Yotko
Malcolm
Royston
Jody
Jack
Yotko
"I can't believe it, I'm 20% up. I feel that I can actually make it as a trader... thank you Mark and John."

Malcolm

"I've learnt more in 3 weeks than I've learnt in 2 years at LTT. I actually don't think the coaches would understand half of what you teach."

Royston

"I've been a member of Trade and Train for over 2 years now and I've found it to be one of the best decisions I've made."

Jody

"The journey I've been on with Trade and Train has been incredible."

Jack

"I paid for the years subscription in my first week."

Yotko