GBP/USD likely direction

On Friday, the US dollar moved to growth against other major currencies after the US Congress voted for an agreement on the parameters of the federal budget for the next two years, ending a short suspension of the government. The pair GBP/USD dropped 0.86% to 1.3793 in the afternoon.

The GBPUSD is trying to go back to its bullish trend, but the 1.3900 level is acting as a resistance at the moment, therefore we may see a bearish bounce to the low at the 1.3764 level.

GBP/USD pushed higher today and inched close to 1.41, but bulls were not strong enough to keep this level. Currently the pair is trading at 1.4050 and again 1.4080 comes as first resistance.

sorry dude I dont spend alot of time in the forums anymore, and I am willing to help and help a heap of people, improve in forex, forex is really very much like chess. How did I know what the big banks are doing? for several reasons, for starts I have their level 2 data, not that I really need it, as I can tell anyways. I have been at this trading thing for 20 years, so it didnt come easy even if its all easy now :slight_smile: eurusd be a seller :slight_smile: I tell people everyday what the big banks are doing, its obvious! all you need to do is enter and exit intelligently. And manage your risk smartly and not like a RT that just graduated from preschool. send me a DM Saltatrix and ill help you out.

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no, he doesnt know :ƞ

I favor the sell on the touchback to 1.4150 :slight_smile:

https://contattafiles.s3-us-west-1.amazonaws.com/tnt27056/kBzQn3UhKZ6JX0I/Pasted%20Image%3A%20Feb%2015%2C%202018%20-%2012%3A19%3A14pm

my team loaded up big and fat short fading the top at 1.4150 like I said yesterday, just figured Iā€™d be a nice guy and share the NO BRAINER trade

17 hours ago plenty of time for you to enter @Falstaff or not?

Yes plenty time Elijah, Just that I donā€™t really follow this thread - itā€™s full of learned contributors saying ā€œIf it doesnā€™t go up it might go downā€ :slight_smile:

So I didnā€™t see it. Iā€™m out for a while now, but Iā€™ll study your chart later and see what I can learn from it.

Respect for the forecast though :sunglasses:

it was spot on of course. RTā€™s went long on the break of 1.4100 dunno why :stuck_out_tongue:

https://contattafiles.s3-us-west-1.amazonaws.com/tnt27052/oEDJxRhZjQzSwpU/Pasted%20Image%3A%20Feb%2016%2C%202018%20-%207%3A41%3A21am

this trade was so easy a baby could have gotten it. and now is not the time to go short! that was yesterday as price approached the level 1.4150

I think that is called a ā€œbreakout tradeā€ - Itā€™s in the books :slight_smile: (if the candle closes above ā€œresistanceā€¦ā€ )

But of course ā€œthe predatorsā€ can read the books too

hahaha oh yeah I dont read many books, I write them, the breakout trade is the least probabilty trade there is BTW, thats the whipsaw trade for me, breakout bwhahahaha, breakout all the $ outta your wallets LOL

The pound recorded another successful session against the dollar on Thursday. The session started at 1.3998 and ended at 1.4099. If bullish moods are maintained, the level at 1.4150 will be tested. If the direction goes down, it is likely that the pound will focus on the first support at 1.3990.

Support level can be found around 1.40, break below it would lead to further downside.

The British pound recorded a decline against the US dollar on Friday. The currency pair opened at 1.4098 and finished 87 pips lower. Daytime extreme values ??were reached at 1.4144 and 1.3996 respectively. The price has found support at 1.4015, but given the negative outlook, a sequential test at the relevant levels is not ruled out.

Key levels to watch for:
Support: 1.4015; 1.3850; 1.3650;
Resistance: 1.4315;

GBP/USD moved lower today and marked low at 1.3931 before refuming the up-move. Currently the pair is trading at 1.3995 and yet finds difficulties to fight the 1.40 level. To confirm the bullish trend the pair will need first to advance beyond 1.4025.

Next week Brexit will be back on the agenda, the UK government seems now has an idea of what kind of post-Brexit deal they want, a Canada-style. Market expecting a stronger Pound with softer Brexit.

The pound recorded a volatile session against the dollar on Friday. In the end, trade ended in favor of the British currency, but the increase was negligible. If the bulls increase their influence, the pair will test the resistance at 1.4147. The session was opened at 1.3952 and the final was 14 pips up. The difference between the highest and the lowest was 100 pips.