By examining the hourly chart of GBPUSD we can see that it has been somewhat consolidating in the same range since this week's open, spending most of the week inside the April 20th NWOG, going up and down numerous times. Currently Cable is being traded at 1.3488, in between the March 2nd NWOG high at 1.3486 and April 20th NWOG Low at 1.3489.
I expect GBPUSD to drop further, first to the 1.3447 level, which is the Consequent Encroachment of the March 2nd NWOG, also sweeping the liquidity below the 1.3474 level. After that if it fails to stabilize above the C.E., I expect GBPUSD to go even lower to the 1.3444, and if it fails to bounce back up from that level, it'll drop to the 1.3410 level, sweeping the liquidity below the 1.3416 level as well.
Same as EURUSD, GBPUSD also is moving with the news around the war and the Strait of Hormuz being closed. If the Strait is reopened, Dollar will drop and GBP will go higher, but for now, GBPUSD is gonna drop.
Targets: 1.3479, 1.3472, 1.3465, 1.3458, 1.3451 and 1.3444.
I expect GBPUSD to drop further, first to the 1.3447 level, which is the Consequent Encroachment of the March 2nd NWOG, also sweeping the liquidity below the 1.3474 level. After that if it fails to stabilize above the C.E., I expect GBPUSD to go even lower to the 1.3444, and if it fails to bounce back up from that level, it'll drop to the 1.3410 level, sweeping the liquidity below the 1.3416 level as well.
Same as EURUSD, GBPUSD also is moving with the news around the war and the Strait of Hormuz being closed. If the Strait is reopened, Dollar will drop and GBP will go higher, but for now, GBPUSD is gonna drop.
Targets: 1.3479, 1.3472, 1.3465, 1.3458, 1.3451 and 1.3444.
Trade fechado manualmente
By examining the 4H chart of GBPUSD, we can see that cable reached TP5 out of 6, going as low as 1.3447, just 3 pips short of our final target at 1.3444. Cable went inside the April 13th NWOG 2 times and bounced back up each time, and is now being traded at 1.3476.Now I wanna see GBPUSD going for the March 2nd NWOG High at 1.3486, and as long as it stays above the 1.3447, we could see it go higher and retest the NWOGs above.
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Free channel: t.me/AmirAliTrading_Official
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.