Skip to content

GBPUSD – approaching the target levels

Daily and weekly charts indicate a long-term bullish trend from the beginning of 2017, however,  I believe we are approaching its target levels – approximately 1.4625. Our model predict the long-term reversal after pair reaches this very important resistance. What will cause this reversal – be it political or economic factors –  remains to be seen.

GBPUSDWeekly

GBPUSE Weekly 

On a daily charts (below), we clearly see GBPUSD  achieved today the tactical reversal levels and in  the mid-term I expect high probability of price decline below current levels (1.4180 at the moment). Yesterday’s daily doji daily is another technical sign I would consider.

GBPUSDDaily

GBPUSD Daily

On a short and mid-term  (see below H4 charts) I am placing limit BUY orders at 1.4115 and 1.4000 both of which are very strong support levels with a great potential to play  on price the bounce.

GBPUSDH4

GBPUSD H4 chart

Below 1-hour chart is shows the resistance level structure  in more details ( btw, these pictures perfectly demonstrate fractal perfectness of a price dynamics.)

GBPUSDH1

GBPUSD H1 chart

Good luck with your trades !