Forex Trade Signals and Setups Nov. 29th
GBPUSD – Building a Base
After selling off heavily from 1.6100 – 1.5425, the GBPUSD seems to have found a short term base in with two higher lows and higher highs shown in the chart below. Price Action is holding nicely above the 20ema which it has not done since the 18th of Nov. Recent price action has shown more impulsiveness in its upside moves then in selling off. Look for pullbacks sub 1.5550 for possible entries to go long while watching for resistance at the daily 20ema around 1.5700. Should it get past here, then 1.5900 should follow shortly after.
Remember to leave us your comments which are always appreciated, and also to click the ‘Like’ and ‘Tweet’ buttons below to share it.
New Article: Just wrote a great new article called Price Action Trading Explained.
Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.
Want to Learn Price Action Strategies for Trading Forex?
Sign Up for our Monthly Newsletter and Get our FREE E-Book