GBPUSD: Pushed Lower After Breakout From Key Support (Short Term-Sell)

GBPUSD: has had a breakout lower after bullish US labour data was released. In addition, uncertainty still remains strong on the pound,  such uncertainty is not fully yet released by the market. A push below 1.290 is entirely possible next week. Traders, what out for a key support as Buyers may jump in as early as 1.288. Therefore, a long term hold position below 1.285 may be wise

Strategy:

Plan A: Sell at 1.305, Target Price 1.290/1.280, Stop Loss 1.310.

Plan B: Buy at 1.285, Target Price above 1.320, Stop loss 1.265.

4-Hour Chart

Click Here for Interactive Chart

Visit CryptoFromBed.com to explore our Crypto-Currency trading ideas and strategy. Check out our latest analysis on Ethereum or our Forex analysis on EURUSD/EURJPY.

Trade now with XM broker

Support our analysis service below

Leave a Comment

Your email address will not be published. Required fields are marked *