GBPUSD Buy At Key Support Profits | Feb 23
GBPUSD – Range Support Trade Profits (4hr chart)
On Feb 18th in the members commentary, we talked about the range in the GBPUSD between 1.5345 and 1.5450 being a playable buy off the 1.5345 support there. On both the 20th and today the pair bounced off this level with the bids holding the line each time, touching the high of the range today.
Anyone who traded this would have made a really nice profit for a nice risk:reward trade. For now we are maintaining our ST bullish bias while above this key support and 1.5200 on a daily closing basis.
Upside we have resistance around 1.55 and 1.5550 where I’m expecting some solid offers to come in, so bears wanting to get short can look into this zone for selling opportunities.
Also in our members commentary today, we cover the EURUSD, AUDUSD, NZDUSD, GBPJPY & Nikkei. Click here to become a member.
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