Nice looking price action on the GBP for a sell

FX:GBPUSD   英镑/美元
271 0
During the course of last week’s session, the GBP/USD managed to recoup more than 50% of the prior week’s losses. This transported weekly price back up to the underside of a resistance level planted at 1.3301. A response from this line might force the unit down to channel support extended from the low 1.1986 in the near future.

On the daily timeframe , GBP/USD bulls chalked up five consecutive bullish candles last week. Despite this, Friday’s candle formed a strong-looking bearish selling wick ( pin bar ) that pierced through the top edge of supply at 1.3291-1.3233, and came within a few pips of plugging into a 50.0% resistance value pegged at 1.3344 taken from the high 1.3655.

The impact of Friday’s slightly lower-than-expected US data saw the British pound dash through offers at the 1.33 handle. As can be seen from the H4 chart (better on the M30), a high of 1.3337 was achieved before the pair began paring gains into the closing bell.

Suggestions: With weekly price still showing potential to the downside and daily price fixed within supply at 1.3291-1.3233, our bias, for the time being, remains bearish . This – coupled with H4 price trading sub1.33 in the shape of a full-bodied bearish candle – could lead to the piece selling off down to the 1.32 handle/August’s opening level at 1.3201 today/this week.

Levels to watch/live orders:

• Buys: Flat (stop loss: N/A).
• Sells: Shorts at current price are valid without the need for further confirmation (stop loss: 1.3340).
Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出