GBPUSD – Price has to make a decision

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GBPUSD – Price has to make a decision

Trend: Sell/ Neutral

Support/Resistance:
R4: 1.31038
R3: 1.33635
R2: 1.32110
R1: 1.31038
S1: 1.29092
S2: 1.27902
S3: 1.27066

Price action:
At the moment gbpusd price is stucked betweeen overall bulls and potencial bears. How can we recognize perfect timing will tell us our Elite strategy, but first of all this trade might be more risky to trade then it looks, because of possible volatility and spikes. Trade idea is more on bearish side then bullish, even if overall market is still showing more bullish. Important to follow is second resistance at 1.27902 level, because if the price will break this level and hold below, we can see second and third target. For now first target is more test for buyers then potencial target if you're trader for healty profit and not Trade chaser. On the other side if the market get bounce and continue bullish, then healty trade idea starts from 1.27902 level.


Potencial trade idea:

Bulls targets:
T1: 1.33635

Bears targets:
T1: 1.29092
T2: 1.27902
T3: 1.27066

NOTE – We are trading GBPUSD via the preferred trading setups by EliteFxAcademy


Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.


Keywords:
Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education

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