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GBP/USD Sideways Range Intact- Brace to Trade Breakout!

Key Resistance Levels: 1.4171, 1.4200, 1.4234

Key Support Levels: 1.4107, 1.4074, 1.4044

Daily Chart:

The GBP/USD pair is trading at 1.4136 level and it seems to close a Doji candle on the daily timeframe. As we can see, the Doji candle will be followed by a solid upward channel and if this happens, we may have a bearish correction in the Cable pair. On the lower side, violation of 1.4106 level can trigger Fibonacci retracement until 1.4050 and 1.3975 level. However, a bullish breakout of 1.4179 can offer us a nice buy trade.

GBP/USD Medium-Term Trend: Bullish

2-Hour Chart:

On the 2-hour timeframe, the GBP/USD pair is stuck in a tight trading range of 1.4179 – 1.4106 level. Breakout of this range can trigger a buy or a selling opportunity. Here’s a quick trade plan below:

Signal Idea – Sell Stop

Sell Stop Order @ 1.4080

TP 1 @ 1.4049

TP 2 @ 1.3977

Stop Loss @ 1.4135

Signal Idea – Buy Stop

Buy Stop Order @ 1.4180

TP 1 @ 1.4225

TP 2 @ 1.4250

Stop Loss @ 1.4145

Trade Safely 🙂

About Ali B.

Live Webinar Speaker & Derivatives (Forex, Commodities, and Indices) Analyst with the broad range of skills for evaluating financial data. Expert in investment trends, technical analysis, fundamental analysis, market sentiments, and trading psychology.

2 comments

  1. Hi, hoping that you are well.

    This is shabani, i am so glad to send this mail to you, i found your website from youtub some days ago, and after read good review from you, i am so eager to joining your vip channel.
    From last week i started to follow your analysis to see your signals quality as you have not any verified real account.
    It is good, but yesterday on may 12, 2021. For your gbpusd, it was a big mistake.

    May you review your gbpusd again on that day, it seems that, you forget something.
    you published positive for that signal, but it did not take any profit, because after the gbpusd touched the sell point on 1.4080 , market touched the stop and higher 1.4152.
    So, it was not profit. At this moment i am eager to know that, am i right? , because i visited the chart of gbpusd on 3 different brokers.

    I am looking forward to yearibg from yoeu side.
    Best regards.

    • hi, hope you are well

      until now , i am waiting to your reply for my review. your results which published on your telegram for this analysis was wrong. may you correct it. or i missed something!

      thanks.

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