Forex Trade Idea: Looking to Buy GBPUSD On Pullback Into Support | Dec 16th

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Chris Capre’s current live open price action & ichimoku trades: GBPUSD, SUI20, CORN, USDMXN, CHRW, NZDCAD

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GBPUSD – Looking to Buy On Pullbacks Into Support (1hr chart)

Price Action Context

After skyrocketing post UK election with Boris Johnson winning handily, the GBPUSD forex pair has sold off in a corrective pullback after spiking into the major resistance around 1.3480/1.35. I’m suspecting this is some profit taking before the next leg up.

Hence I’m looking to get long on a pullback into support.

gbpusd forex trade idea 2ndskiesforex

Trending Analysis

ST and MT bullish while above 1.3015 on a daily closing basis.

Key Support & Resistance Levels

R: 1.3480, 1.3515

S: 1.3115, 1.3030

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