Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
GBP/USD could enter into a corrective phase
2019-11-11 • Updated
GBP/USD has been taking the flag in favor of the bulls in the short-term, as the price action is showing a strong consolidation above the 50 SMA at H1 chart, which also points to the upwards across the board. A corrective move is expected to take place towards the 200 SMA, where it coincides with the Fibonacci level of 50% at 1.4130, and a rebound could happen in order to resume the bullish bias to test the -23.6% Fibo zone at 1.4374.
RSI indicator remains in the neutral territory, calling for sideways in the short-term.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...