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GBP/USD Trade Idea

  • Major Support – 1.4185 (200 day MA)
     
  • Cable has recovered yesterday after making a low of 1.41965 (near 200 HMA) .It is currently trading around 1.42391.
     
  • Intraday trend is slightly bullish as long as support 1.4185 holds.
     
  • Any break below 1.4185 will drag the pair down till 1.4100/1.4040.Overall bullish invalidation only below 1.4000.
     
  • On the higher side resistance is around 1.4280 and break above targets                 1.4320/1.4350.
     
  • The pair should close above 1.4400 for further upside.

It is good to buy at dips around 1.4220 with SL around 1.4180 for the TP of 1.4320/1.4345.

R1-1.4280

 R2-1.4320

R3-1.4350

Support

S1-1.4180

S2-1.4100

S3-1.4040

 

  • Market Data
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