GBPUSD – Next Leg Higher Likely

Guest Post by Nicola Delic

The British Pound after struggling against the US dollar finally managed to trade higher. IF we look at the daily chart of the GBPUSD pair, then we can notice a breakout pattern, as there is a triangle created. It looks like a bullish one, and if buyers manage to break the triangle resistance area, there is a chance of the pair trading higher in the medium term. So, I think we should be looking for buy opportunities.

In order to enter a buy trade I think we should wait for the GBPUSD pair to break and settle above the triangle resistance area.

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Technical Analysis

D1– Chart representing the possibility of the GBPUSD pair trading higher and move towards 1.6000.

Entry:

H4– We can enter a buy trade once the GBPUSD pair breaks and settles above the triangle resistance area.

Target 1: 1.5800
Target 2: 1.6000
Stop Loss: Below 1.5400

Video Explanation:

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.