GBPUSD Analysis – Gbpusd Potential Long Continuation
GBPUSD Analysis – Price has retraced and located support at 38.2 retracement. Am watching to check whether price will break support and perhaps drop to .5 ( 1.2350) or lower or whether price will bounce off current support and continue up to check resistance around 1.25/1.2520.
Bear Momentum Apparent, Take Profit And Wait
Bearish kicker signal open today showing a transparent negation of the bull power seen last week. The gap down was a clear signal to take instant profits. could also signal a short position, could close as an evening star, or equally likely break sideways resistance turned support and break down once more below the trend line, offering good short chance. Keep a watch on this one.
Good time to enter long
stop below 1.2330