The pair has been moving in a narrow range since closing above 1.3445 on 15 Sept and the break came with an impressive 800p rally from the Aug low at 1.2773. The pair had heavy selling pressure above 1.3600. However, this pair is in a strong uptrend that will make selling risky. The 1.3445 is also the Sept 2016 high that also capped advances in June and July 2016. Traders can watch the 1.3445 handle for a DAILY close below or alternatively a close back above would keep the range intact. The next KEY support is at 1.3250. Keep in mind that this is a counter-trend trade and use appropriate risk management.

GBPUSD - watcj 1.3445

Source: Queen of Pound

2 thoughts on “GBPUSD rally at risk below 1.3445”

  1. Ronald Jennings says:

    Hey Maryna! I havent been on here in awhile. Its good to see you back on here posting trade ideals.

  2. Rana Haq says:

    Thank you for your analysis. There is a BOE’s Governer Carney speech tomorrow , it may impact on this pair also.

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