Historical support zone for GBP/USD. Will there be a bounce up?
Dear traders, a week ago I predicted that GBP/USD will drop below 1.22 and that's why
I published a signal to sell it at 1.2570. I am pasting the previous chart below so you
can take a look and understand the analysis.
So, if you followed the signal, you have already made a huge profit of 500 pips.
Currently, you can see that GBP/USD is at a historical support level and the price has already
bounced up quite a bit in an impulse. However, with the FOMC meeting looming, I would not
place any trades for now. Instead, I would be looking to see if there is a quick dip
in GBP/USD below 1.1950 during the meeting.
My target is to buy GBPUSD@1.1930-1.1980 with SL below 1.1880 and initial TP at
1.22 and final TP at 1.25.
I published a signal to sell it at 1.2570. I am pasting the previous chart below so you
can take a look and understand the analysis.
Currently, you can see that GBP/USD is at a historical support level and the price has already
bounced up quite a bit in an impulse. However, with the FOMC meeting looming, I would not
place any trades for now. Instead, I would be looking to see if there is a quick dip
in GBP/USD below 1.1950 during the meeting.
My target is to buy GBPUSD@1.1930-1.1980 with SL below 1.1880 and initial TP at
1.22 and final TP at 1.25.
