GBPUSD - Within the range!
GBPUSD - Yesterday, I posted bear flag formation - we did get to one of the support levels I been looking at but that key pull back I mentioned was key!
We are range bound between the areas of:
Resistance 1: 1.31233
Resistance 2: 1.31794
Support 1: 1.30151
Support 2: 1.29831
Pattern: Triangle - Consolidating at this moment of time.
If we were to go below these key support areas, a further pull back will continue further - However, above resistance area 1 i'd be bullish towards 2nd resistance area. Even within the ranges, there are key trading opportunities. Which you could just focus on the levels and take the trading opportunities within smaller time frames. Larger picture overall on the daily - We are within the range as most majors currently are - Keep an eye on that.
Overall, seek whatever direction the momentum goes towards.
Key tips:
- Longer time frame, indicates shorter time frame movement.
- Add alerts it will make it easier for any price movement that develops.
( Remember: Just an idea, not a recommendation! )
Trade Journal.
We are range bound between the areas of:
Resistance 1: 1.31233
Resistance 2: 1.31794
Support 1: 1.30151
Support 2: 1.29831
Pattern: Triangle - Consolidating at this moment of time.
If we were to go below these key support areas, a further pull back will continue further - However, above resistance area 1 i'd be bullish towards 2nd resistance area. Even within the ranges, there are key trading opportunities. Which you could just focus on the levels and take the trading opportunities within smaller time frames. Larger picture overall on the daily - We are within the range as most majors currently are - Keep an eye on that.
Overall, seek whatever direction the momentum goes towards.
Key tips:
- Longer time frame, indicates shorter time frame movement.
- Add alerts it will make it easier for any price movement that develops.
( Remember: Just an idea, not a recommendation! )
Trade Journal.
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