GBPUSD: Pedal-UP Britain, You’ve to go a long way.


The decreasing trend line accurately portrays GBPUSD weakness, traders are waiting for headline UK Q4 2018 GDP figures to register a lot of moves. Currently, 1.2890 becomes immediate support for the pair, breaking which 1.2850 and an upward slanting trend at 1.2825 seem important to watch.

If the pair drops below 1.2825, the 1.2810 can offer an intermediate stop to its plunge to 1,2700 round figure. On the upside, a D1 beyond 1,2960 trend lines becomes necessary for the pair to aim for 1,30000 resistance levels. Pair’s successful trading past 1,3000 also enables it to challenge the 1,3055 and 1,3130 numbers to the north.

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Trade signals would usually have a risk to reward ratio of 1:2.

It means that even 2 out of 4 signals hits their SL marks, the other two would have closed with profit.

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Signals are usually inter-day (Based on the daily candle) therefore, trades would usually have a holding time of an average minimum of 24 hours.

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Note: Please leave comments for any query.

Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.




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12 Feb 2019 12:01 pm Posted by admin