FX.co ★ Crazy-Trader | GBP/USD

GBP-USD PAIR ANALYSIS When the candle has reached the demand area of 1.2868 and is unable to penetrate the gbpusd movement which was previously down immediately turned up. Last Thursday gbpusd experienced a fairly high increase because the candle was able to move to a price of 1.2985. In fact, the upward pressure was so strong that the resistance at a price of 1.2959 was also penetrated. Unfortunately, only the tail was penetrated, not the candle body, so now the gbpusd movement will be slightly depressed down.

If analyzed from the h1 timeframe with the emergence of a candle pattern in the upper area, it indicates that after this there is predicted to be a downward movement. As long as the tail is around the price of 1.2989 gbpusd has the opportunity to continue its decline even deeper. Now gbpusd has only fallen to a price of 1.2945. My target is that gbpusd will fall to support 1.2890. For example, gbpusd still wants to rise, I am sure it will not exceed the resistance at a price of 1.3003. At least gbpusd will retrace around there when its movement continues to rise. If analyzed using the ichimoku indicator, the effect of yesterday's increase in gbpusd made the candle position above the tenkan sen and kijun sen lines. When the candle position is above the tenkan sen and kijun sen lines, its movement is indeed more dominant up than down. However, along with the current decline in gbpusd, the candle has started to approach the kijun sen line. There is a possibility that after this there will be an intersection. Meanwhile, the stochastic indicator gives an idea that the next gbpusd movement will still fall because the line is still facing down. However, I also have to be vigilant because the line is only a little bit away from touching level 20. There is a possibility that there will be a reversal in the near future. That's what I have to be aware of. So the conclusion of today's analysis is that the gbpusd currency pair still has the possibility to continue its decline even deeper because the support at the price of 1.2908 has been penetrated. In addition, the appearance of the candle tail is a sign that the market will reverse. Therefore, I recommend to those of you who trade in this pair, you should focus on opening sell positions. Therefore, I recommend to those of you who trade in this pair, you should focus on opening sell positions only. For the take profit target, you can place it around the price of 1.2875 and the stop loss can be placed around the price of 1.3000