GBPUSD H4 Chart Technical Overview NFP Ahead

GBPUSD H4 Chart Technical Overview NFP Ahead

Cable is testing the 1.30600 key support.

NFP will be released in an hour.

A better than expected NFP data may send the pair 1.3000 and 1.29400.

What can be done?

A pending sell order can be placed at 1.30400

Stop: 1.30700

Target 1: 1.3000

Target 2: 1.29700

Target 3: 1.29400.

Update: TP1 Reached

If the NFP does not meet the expectations, we may see the pair testing the downtrend line as seen on the below chart:

Here we plan to wait for the 1.31200 breakout to go long with the targets 1.31800 and 1.32200.

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Trading with emotions is “committing suicide” by M.H.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

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