Inside Bar on GBP/USD

Inside Bar on GBP/USD

Last two weeks there were aggressive sales on GBP/USD. The pound weakened against the US dollar by more than 400 points. Nevertheless, in the near future, we do not exclude a corrective movement. The GBP/USD currency pair maintained a key support level of 1.30500. At the moment, a number of the Price Action patterns, Inside Bar, (H4 timeframe) have been formed. These formations indicate the development of the bullish sentiment in the short term.

If the price fixes above the round level of 1.32000, we recommend considering buying GBP/USD. The closest target for fixing profits is the mark of 1.32850. The movement is tending to the "mirror" resistance level of 1.33600. Confirmations and entry points to the market should be looked for on lower timeframes. When tracking the position, we recommend using a trailing stop.

by JustForex, 2017.10.10

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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