Hello FirePips family, hope everyone ready to burn up
some pips this week. Currently we're lookking GBPUSD on
a 45 minute chart. Last week I was successfully able to make
some good profit by coming in short at 1.27523 and as you can see
price went in my favor once D was form at the pivot point 1.27630, in my cool
zone at retracement level 161.80%. Next position Im looking for a possible
buy at 1.26950 coming out FirePips red zone on retracement level 50.00%.
But if you trying to get technical. Due to market analysisa potential break above last week’s high at 1.2745ish should be a short term bullish development, provided it is not a brief false break. If it does manage to break and hold above 1.2745 today then we could potentially see a squeeze towards the next resistance at 1.2865, the low from April. However, if the cable does not break above last week’s high but instead take out support around 1.2670 area first then this could pave the way for a potential drop below last week’s low at just below 1.2560 and potentially this year’s low at 1.2420 next.
some pips this week. Currently we're lookking GBPUSD on
a 45 minute chart. Last week I was successfully able to make
some good profit by coming in short at 1.27523 and as you can see
price went in my favor once D was form at the pivot point 1.27630, in my cool
zone at retracement level 161.80%. Next position Im looking for a possible
buy at 1.26950 coming out FirePips red zone on retracement level 50.00%.
But if you trying to get technical. Due to market analysisa potential break above last week’s high at 1.2745ish should be a short term bullish development, provided it is not a brief false break. If it does manage to break and hold above 1.2745 today then we could potentially see a squeeze towards the next resistance at 1.2865, the low from April. However, if the cable does not break above last week’s high but instead take out support around 1.2670 area first then this could pave the way for a potential drop below last week’s low at just below 1.2560 and potentially this year’s low at 1.2420 next.