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11042018 GBPUSD PROFIT TAKEN

Hello, my dear friends and the fellow community members,
My GBPUSD long trade is closed now. My initial target was 1.4240 but seeing the falling trendline appearing at 1.4215 level, I booked profit at 1.4210. As now I think the pair may head towards support area near 1.3980 levels. Here is what I have done.Happy trading to all.
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GBP/USD-Bull Run Stalls

Charts: 4Hours, 1 Day.
Indicators: Fibonacci Retracements,Fibonacci Fan Lines,Support & Resistance Levels , MACD, EMA 200,100,50.
Current Level : 1.6487

GBP/USD
has a major support zone at 1.4811 from which in July this year the pair started to show signs of a bull rise which latter had been confirmed as a lasting bull trend when it reached a major resistance zone at 1.6265.The pair encountered a 1 month and a half sideways movement and cosolidation before the November 13 breakout which bo
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gmoney7 avatar
gmoney7 30 Dic

Very perceptive analysis...

Metal_Mind avatar

UPDATE 1 : CUrrent price level is 1.6573 which is only 24 pips bellow the target. Until now this prediction evolved acordingly as predicted but since there are so many days to go it is posible at the settlement time that this prediction might be far from target.

Metal_Mind avatar

UPDATE 2: Even though this initial deviation was only 24 pips the Friday close price is 1.6432 and increased the deviation by 160 pips now. We shall see if the pound has enough stregth to lift up and recover.

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