Good day traders,
Let’s see what the market has for us this week.
1. GBP/USD
Resistance level 1.33897 on the GBP/USD has been established since June 2018. Ever since, price has found it difficult to break that resistance level.
Last week the market closed with the bears taking over the GBP/USD, after price hit resistance level 1.33897.
This week all we should be looking out for is a sell entry, and our next possible support level will most likely be 1.31068
That said, ensure your system gives you a bearish confirmation before entering a sell position this week.
2. GBP/CHF
GBP/CHF has found it difficult breaking the 1.22070 resistance level since April this year.
Presently price is resting on a minor support level (1.20180) which can also be termed as a consolidation band
If we do get a breakout, then price’s next stop will most likely be 1.19031.
Note that there is also a slight possibility that we could get a minor or major pull-back, or even a reversal of price this coming week
So, it’s important we do wait for confirmation before jumping into this trade.
3. GBP/AUD
On the GBP/AUD, support level 1.79801 has been rejecting price since early October this year.
Are we going to see a repeat of the rejection of price back to resistance level 1.81438, or are the bears strong enough to break support level 1.79801, and move on to the next possible support level (1.78614)?
What say you?
ATTENTION:
For those who are interested in joining our FREE trading group on Telegram, where trade ideas are discussed, which may assist your trading career while being infected by positive vibes
Smash the link: https://t.me/joinchat/FN30PxlwXbk2BcuTDdH5yg
If you are also new to forex trading or you are looking for a reliable broker with:
- Competitive spreads which is a big plus if you are a scalper
- Fast withdrawals or
- A platform where you can trade currencies, stocks, commodities, and indices trading
Search no further as Mtrading meets most trader’s requirements, and I am personally satisfied with them.
