Can’t forget about the GBPUSD

Are you monitoring the GBPUSD? I am, the GBPUSD is definitely another currency pair that it’s trading in between clear LT support and resistance levels.

Last week it was bearish, I even took a trade on the GBPUSD, but if you see the daily charts, you’ll see that it has been rejected from an important support level around 1.5345, and what is it likely to do once it gets rejected from a support level? Go up and hit its next resistance level, which I have at 1.5970.

On the short term charts, it already broke through the ST resistance level, allowing us to start looking for long opportunities:

Remember the next LT resistance level is at 1.5970, all TP orders should be set below this level.

Trade Safe!

Raul Lopez
Forex Training

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .