Inside Bar on GBP/USD

Inside Bar on GBP/USD

The bullish sentiment is prevailing on the GBP/USD currency pair. Since the beginning of this week, the pound has increased by more than 300 points. The Brexit vote in the UK Parliament is still in the focus of attention. Near the key resistance of 1.33300, some classic Inside Bar patterns (H4 timeframe) have been formed, which currently act as the continuation of the current trend. We recommend paying attention to this situation.

If the price fixes above 1.33300, it is necessary to consider buying GBP/USD. The immediate goal for profit taking is a round level of 1.34000. In the medium term, the GBP/USD quotes may reach 1.34500-1.35000. Confirmations and entry points to the market should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex, 2019.03.14

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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