GBPUSD: Pip perfect test of support for Sterling
GBPUSD Next Long set-up (and downside from here)
We've just seen a Pip Perfect test of the rising support line - the perfect exit point for shorts on this pair.
And stellar trading if you managed to reverse there...the perfect trade with a stop just 5 pips lower.
Right now, Sterling is sticking at 1.3113 - it just needs to get 5 pips higher to trigger a long from here if you
missed the lows...for a move up to 1.3311 or just shy. Stops need to be under the parallel by 5 pips for
fast test of 1.3029 if broken.
Sterling will need to fall below here for the next swing trade lower, though, back to 1.2765.
And on upside, will need to beat near term resistance at 1.3311-1.3341 now for a fairly short-lived swing
trade higher to a target at 1.3462/falling resistance line intersection.
We've just seen a Pip Perfect test of the rising support line - the perfect exit point for shorts on this pair.
And stellar trading if you managed to reverse there...the perfect trade with a stop just 5 pips lower.
Right now, Sterling is sticking at 1.3113 - it just needs to get 5 pips higher to trigger a long from here if you
missed the lows...for a move up to 1.3311 or just shy. Stops need to be under the parallel by 5 pips for
fast test of 1.3029 if broken.
Sterling will need to fall below here for the next swing trade lower, though, back to 1.2765.
And on upside, will need to beat near term resistance at 1.3311-1.3341 now for a fairly short-lived swing
trade higher to a target at 1.3462/falling resistance line intersection.