Home / FOREX / GBP/USD technical analysis
gbpusd technical
gbpusd technical

GBP/USD technical analysis

GBP/USD technical analysis

GBP/USD trading in positive territory all day, it made three attempts to break above 1.34 but with no success. The forex pair seems to run out of power at that level. I believe a test of the 1.3000 area remains well on the cards for Cable in the next weeks. Entering a short position at current level with stop loss at 1.3427 and take profit at 1.3310

 

TCResearch

 

Risk Disclaimer:
Trading foreign exchange and CFD’s on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and CFD’s trading, and seek advice from an independent financial advisor if you have any doubts.

 

 

Check Also

EURUSD trading

EURUSD

EURUSD has been trading within a well defined uptrend over the last several months, since breaking out in early 2017. 1.2360 provided support to the pair in early February and now switches to resistance. The pair’s top level was $1.2555, and recent low was 1.2155. Immediate resistance is seen around 1.2350. A clear break above ...