Our Preference: Sell Below 1.2950 for the target of 1.2730
Alternative Scenario: Nill
Technical Commentary: In Weekly chart :- GbpUsd was the trading in the triangle pattern, last week its safely reached the upper trend line resistance, so this week we can except correction from resistance to next key support levels :- which we have shown in attached image.
In Daily Chart :- GbpUsd was trading near upper trend line of key resistance and yesterday we got lower closing as bearish candle and its confirming for the selling side, so we can sell below the upper trend line and except upto next key support level :- which we have shown in attached image.
In 4 Hour Chart :- GbpUsd was tested the double top high and its fail to break previous highs and we got new upper trend line with new resistance and we got several closing below the resistance levels, so we can sell below the upper trend line and except upto next key support level :- which we have shown in attached image.
In 1 Hour Chart :- GbpUsd was trading with new intraday upper trend line and its trading in the key support level, so we can sell below the key support level and except upto next key support level :- which we have shown in attached image.
In Weekly chart :- GbpUsd was the trading in the triangle pattern, last week its safely reached the upper trend line resistance, so this week we can except correction from resistance to next key support levels :- which we have shown in attached image.
In Daily Chart :- GbpUsd was trading near upper trend line of key resistance and yesterday we got lower closing as bearish candle and its confirming for the selling side, so we can sell below the upper trend line and except upto next key support level :- which we have shown in attached image.
In 4 Hour Chart :- GbpUsd was tested the double top high and its fail to break previous highs and we got new upper trend line with new resistance and we got several closing below the resistance levels, so we can sell below the upper trend line and except upto next key support level :- which we have shown in attached image.
In 1 Hour Chart :- GbpUsd was trading with new intraday upper trend line and its trading in the key support level, so we can sell below the key support level and except upto next key support level :- which we have shown in attached image.
| PIPS COUNTER - SINCE JANUARY 2013 | ||
| Total Trades | Total Pips | |
| EUR / USD | 1135 | 10130 |
| GBP / USD | 1054 | 10550 |
| USD / CHF | 907 | 8945 |
| EUR / JPY | 818 | 10435 |
| XAU / USD | 1156 | 207955 |
| TOTAL: 248015 | ||
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