Forex Trading Library

Trade of the Day – GBPUSD – Lower highs lines up with bespoke resistance

Trade Ideas
By Ian Coleman
0 445

 

GBPUSD – Intraday – We look to Sell at 1.3060 (stop at 1.3105)

Posted Mixed Daily results for the last 28 days. Trades with a bearish descending triangle formation. The trend of lower highs is located at 1.3065. Bespoke resistance is located at 1.3060. The formation has a measured move target of 1.2580.

Our profit targets will be 1.2910 and 1.2580

Resistance: 1.3060 / 1.3065 / 1.3132
Support: 1.2977 / 1.2910 / 1.2580

Ian Coleman

PIA-First provide award winning trade ideas on financial markets. Ran by traders for traders, PIA-First offer professional technical analysis combined with market sentiment specifically designed for the professional trader and investor whether they are independent or working in a financial institution. Our research covers over 25 different financial instruments from major equity indices, commodities and spot foreign exchange (FX).

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