My Current Active Open Trades: USDCAD, AUDUSD, AUDCAD, AUDNZD, GBPNZD, EURCHF, EURPLN, XAUTHB
GBPUSD – Approaching Top of Corrective Structure, Looking to Sell (daily chart)
After a corrective pullback, the pound continues to gain and push higher up towards 2 key resistance levels. These two levels (1.2742 & 1.2670) are the top of the price action corrective structure which has held for 6 months now.
I’m expecting this corrective structure to hold so am looking to sell. Only a daily close above 1.28 would negate my bias.
If the resistance zone holds, there is scope for a move towards 1.2550, 1.2350 and 1.21. Meanwhile a break and close above 1.28 opens up technical buying for a move back towards …... Keep reading