Pair: GBP/USD (pound dollar)
Overview:
According to the previous events, the price has still been trapped between 1.4810 and 1.4920. Therefore, first step is to wait for a period of tight sideway range market before breakouts. The market is going to start showing the signs of bullish market. In other words, it will be a good sign to buy above 1.4800 with a first target of 1.4960 and it will climb towards 1.5000. However, if the pair cannot break 1.5000, hence the market will indicate a bearish opportunity below 1.5000 then the level will act really as strong resistance, for that it will be a good sign to sell below 1.5000 with a first target of 1.4900 and it will call for downtrend in order to continue bearish towards 1.4805 (the weekly support 1).
Please check out the market volatility before investing, because the sight price may have already been reached and scenarios became invalidated. Stop loss should never exceed your maximum exposure amounts.Strong levels
1.4986| 1.4958 | 1.4927
1.4832| 1.4855 | 1.4899
If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.