GBP/USD: Trading recommendations

Yuri Papshev Independent Analyst

GBP/USD maintains positive long-term momentum, trading in the zone above the long-term support level of 1.3660. Corrective decline may continue up to support levels 1.3790, 1.3660.

A breakdown of the resistance level of 1.3970 could be a signal to close short positions in GBP/USD. In case of consolidation in this zone (above the level of 1.3970) and further growth of GBP/USD, long positions should be resumed and increased.

Breakdown of resistance levels 1.4030, 1.4161, 1.4069 will become a confirmation signal for purchases.

Trading recommendations

Sell Stop 1.3850. Stop-Loss 1.3950. Take-Profit 1.3790, 1.3660, 1.3300, 1.3210.

Buy Stop 1.3950. Stop-Loss 1.3850. Take-Profit 1.3970, 1.4030, 1.4061, 1.4069, 1.42001.4240, 1.4300, 1.4350, 1.4440, 1.4580, 1.4830.

Author

Yuri Papshev

Independent Analyst

Independent trader and analyst at Forex market. Trade experience - more than 10 years. In trade Yuri Papshev uses a combination of fundamental and technical analysis.

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