GBPUSD: Still in a bullish market condition

Written by Raul Lopez on . Posted in Trades & Analysis

Even though the GBPUSD has been ranging in the last 4 or 5 trading sessions, we are still in a bullish market condition looking for long trading opportunities. Here is the chart:



The pound-dollar broke the previous resistance level (now support), this should take it to the next long term resistance level around 1.6658.

My Trading Plan

As long as the Sterling keeps trading above 1.6276, I will be looking for long trading opportunities. All take profit orders will be set below the next resistance level around 1.6658.

All short opportunities will be ignored.

Trade Safe!

Raul Lopez


Tags: , , ,

Trackback from your site.

Raul Lopez

I've been trading the forex market for more than 11 years. All my trades are based on price action. Check out my Forex Coaching program, I can help you develop a system that helps you trade consistently.
Raul Lopez Forex

Trading should be simple

I like to trade using simple tools such as support and resistance levels, candlesticks, price action and others. If you like simplicity, you'll love my Forex Coaching. Read more about me.

If you have any question about anything, please feel free to contact me at: or call +1 518 300 3828

StraightForex on Facebook StraightForex on Twitter Call me on Skype Grab my RSS StraightForex on Google+ StraightForex on YouTube