GBPUSD is consolidating in the 1.4100 to 1.4220 zone.
Prices yesterday manage to pierce through the 1.4220 reaching as high as 1.4250, but eventually failed to close the daily candle above 1.4220.
For now, its immediate resistance is at 1.41800. A break in this price level may trigger a bullish move for GBPUSD and retest its new resistance at 1.4250.
GBPUSD Trade Idea
Sell : 1.41565
Stop loss : 1.41800
TP : 1.41000
SELL Trigger
3 EMA's sloping downward ( 20EMA pierced the 50 and 100)
20EMA acting as minor resistance at 1.41700
Move catalyst
Upcoming NFP release in US speculation will trigger volatility
Expected to have positive data for the USD
Give your thoughts and comment below.
Prices yesterday manage to pierce through the 1.4220 reaching as high as 1.4250, but eventually failed to close the daily candle above 1.4220.
For now, its immediate resistance is at 1.41800. A break in this price level may trigger a bullish move for GBPUSD and retest its new resistance at 1.4250.
GBPUSD Trade Idea
Sell : 1.41565
Stop loss : 1.41800
TP : 1.41000
SELL Trigger
3 EMA's sloping downward ( 20EMA pierced the 50 and 100)
20EMA acting as minor resistance at 1.41700
Move catalyst
Upcoming NFP release in US speculation will trigger volatility
Expected to have positive data for the USD
Give your thoughts and comment below.