GBPUSD H4 CHART

GBPUSD Potential Downside Move 01-22-2018

GBPUSD opened with a gap on Monday at1.38900. However, Cable filled the gap. The pair is being traded 1.38600 currentyç

10 Years US-UK Spreads are increasing. On the smaller chart time frames, we see the signals of the correction.

RSI headed south but still remains in the bullish territory. 1.38550 is the weak support of the day. If the pair breaks below 1.38500, 1.37900 and 1.37600 can be tested.

We keep our bullish position on GBPUSD, but we can see a pullback towards 1.37900 and 1.37600. Pullbacks can be used as buying opportunities as long as the price holds above 1.37600.

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Warning: All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases.

If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.

WARNING ABOUT TRADE IDEAS

  1. We enter trades on different pairs and we look for other trade opportunities. So we recommend you to enter trades with the smaller size.
  2. Do not exceed 10% margin.
  3. Stop Loss and Take Profit Levels are +/- 15 pips minimum.
  4. If we do not publish an update close the 40% of your position on the TP1 level and move your stop loss to entry level.
  5. Some trades ( especially with 300-500 pips profit target) can take 5-6 days to hit the targets. If you do not have patience, do not enter the trade.
  6. Our aim is to close each with week 2500-3000 pips profit minimum.
  7. If we mention as “pullbacks are buying/selling “ opportunities and we publish pullback levels, you do not need to wait for a signal from us. Use these opportunities at the mentioned levels.
  8. All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases. If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly

 

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