What you should do with GPB/USD
On the monthly time frame the GPBUSD is in a downtrend and as we all know that we have to be a friend to the trend and not a total enemy to the other side. In this scenario we can expect the GPBUSD to make its decision by the close of the monthly candle.
It is very important to always pay attention to:
- The trend: That is the direction of flow, the way it is moving
. The fundamental: This is the economic new of the Great Britain as well as the United States - The Support and Resistance: That is the previous bounce from the bottom or bounce from the top respectively
- The Candlesticks: I would say this is very important as the other three listed above.
On a monthly timeframe a break above 1.313 will definitely continue the upside movement which will reveal the a resistance around 1.424. On the other hand a break below 1.252 will reveal a continuation of the downside.
On a weekly we can see that the currency pair is currently consolidating and consequently there is an expected movement which correlate with the monthly details of the monthly above above
On a daily it is revealing that the market is making a decision to take the currency pairs to the downside before a final decision is made.
I will take my trade on the best entry reveal on the 4H and 1H time frame respectively.
Note: This is not a financial advice. Any trade taken on this post is solely the responsibility of the party. Do not trade with money you cannot afford to lose. And above all stoploss is very important
Cheers
Posted Using InLeo Alpha