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GBP/USD Trade Idea

GBP/USD is facing trend line resistance around 1.5500 (trend line joining 1.5818 and 1.5658) and nay break above confirms major trend reversal, a jump till 1.5580/1.5600/1.5650 is possible. On the downside minor support …

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GBP/USD Trade Idea
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  • GBP/USD is facing trend line resistance around 1.5500 (trend line joining 1.5818 and 1.5658) and nay break above confirms major trend reversal, a jump till 1.5580/1.5600/1.5650 is possible.

  • On the downside minor support is around 1.5450 and break below targets 1.5400/1.5380.

  • Overall bullish invalidation only below 1.5320 level.

It is good to buy only above 1.5500 with SL around 1.5450 for the TP of 1.5580/1.5600     

  Resistance

R1- 1.5500

R2-1.5580

R3- 1.5600

Support

S1-1.5450

S2-1.5400

S3-1.5380

 

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