FX.co ★ zunaira7518 | GBP/USD

GBP USD ANALYSIS/ Price update On four hour time frame

On 4H chart GBP USD has been ranging between 1.33182 green support and 1.34824 red resistance for 2 weeks. Price tested 1.34824 multiple times May end to June start and got rejected every time. Then 5 Jun ko massive dump candle ne 1.34824 se 1.33182 tak gira diya. 160+ pips in one candle.Blue 20 moving average on H4 is at 1.34037. Price 1.33534 is below it sellers in control. Red resistance at 1.34824 is now major sell zone. Bollinger Bands opened down after the dump volatility expansion.If 1.33182 green holds and price closes above 1.34037 blue MA on H4, then buyers can pullback to 1.34824 red resistance. If 1.33182 breaks with H4 close below, then next stop is 1.32500 and then 1.32000. H-1 Chart

1H chart confirms the 4H dump. Green support at 1.33352 held on 6 Jun. Price touched it and bounced to 1.33545. Blue 20 moving average on 1H is at 1.33767. Price 1.33545 is below it.red resistance on 1H is 1.34824. Same level as 4H. Dump candle broke blue MA + BB lower band both. You can see the chop from 1-4 Jun at 1.34824, then break.So 1H is stuck between support 1.33352 green and resistance 1.33767 blue MA. No trade in the middle. If 1H closes below 1.33352 then sellers pullback to 1.33182 H4 support. If 1H closes above 1.33767 after holding 1.33352, then buyers go for 1.34037 H4 blue MA. 15 minute time frame

15m shows the exact dump zone. Red resistance at 1.34824. Price topped there on 5 Jun 18:00 and dumped to 1.33062 green support. Blue 20 moving average on 15m is around 1.33400. Price 1.33534 is above it now.Green support on 15m is 1.33062. Price wicked down to it on 6 Jun and bounced. White line at 1.33689 is mid resistance. You can see the chop since 6 Jun 06:00 between 1.33062 green and 1.33400 blue MA.15m is trapped between support 1.33062 green and resistance 1.33689 white line. If 15m closes below 1.33062 then price drops to 1.32500. If 15m closes above 1.33689 after bounce from support, then price moves to 1.33737 orange resistance. My trading thought don’t short at 1.33534 right above support with no confirmation. Don’t long at 1.33534 in the middle with resistance at 1.33767 above. Middle trading burns accounts.for buying setup wait for price to come to 1.33062-1.33352 support zone and show buying pressure. If 15m makes bullish candle and then 1H closes above 1.33689 white line and H4 holds above 1.33182, then buy with stop loss below 1.32800. First target 1.33767 on 1H. Second target 1.34037 on H4. If 1.34037 breaks on H4 close then add more for 1.34824. For selling setup wait for price to close below 1.33062 on 15m and below 1.33182 on H4. After close wait for retest of broken support as resistance. If price fails at retest then short with stop loss above 1.33352. First target 1.32500 on H4. Second target 1.32000 on H4. If 1.32000 breaks on H4 close then add more. Main point ???? Resistance: 1.33689 15m white, 1.33737 15m orange, 1.33767 1H blue, 1.34037 H4 blue, 1.34824 red Support: 1.33534 current, 1.33352 1H green, 1.33182 H4 green, 1.33062 15m green, 1.32500, 1.32000