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GBPUSD Technical Overview And Trade Setup

GBPUSD Technical Overview And Trade Setup

On the Daily Chart A Bullish Alt Bat Harmonic pattern is confirming the bullish correction.

On the smaller chart timeframes, Cable is testing the descending trendline resistance. And it is trading at the rising trend line on the smaller chart timeframes.

The pair is trying to hold in the upper Bollinger bands on H4 Chart.

A break and Close above 1.27250 will carry the price 1.27450 and 1.27560.

GBPUSD needS to make H4 closings above 1.27560 to continue its upward movement. Above 1.27560, 1.28100 is the main resistance.

Rules To Keep In Your Mind:  Trade Safe. Money  Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.

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

 

 

GBPAUD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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