Preferred direction: SELL
Comment: As part of the upcoming strengthening of the American currency, as well as the upcoming NFP, we expect a fall in the GBPUSD currency pair. At the moment, the process of eliminating sellers is being completed, and in the very near future, the market will begin to actively buy at market prices. Thus, this will provide an opportunity for the limit buyer to fix long positions and drop the price. In addition, the area near the level of 1.28000 is a serious obstacle for the buyer, and within the framework of a long-term retest of the indicated resistance, it is most likely that the instrument will go for a correction.
Scenario №2 assumes more medium-term parameters of the trade, if the preliminary upward movement turns out to be significantly greater than what we expect.
We place the downside target at the level of 1.27100, slightly above the liquid area at the level of 1.27000.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: As part of the upcoming strengthening of the American currency, as well as the upcoming NFP, we expect a fall in the GBPUSD currency pair. At the moment, the process of eliminating sellers is being completed, and in the very near future, the market will begin to actively buy at market prices. Thus, this will provide an opportunity for the limit buyer to fix long positions and drop the price. In addition, the area near the level of 1.28000 is a serious obstacle for the buyer, and within the framework of a long-term retest of the indicated resistance, it is most likely that the instrument will go for a correction.
Scenario №2 assumes more medium-term parameters of the trade, if the preliminary upward movement turns out to be significantly greater than what we expect.
We place the downside target at the level of 1.27100, slightly above the liquid area at the level of 1.27000.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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