Price is coming to a very hot spot, monthly support, round number and psychological number 1.5000 and at the same time weekly trend line intersection.

gbpusd-d

Today’s candle also broke lower Bollinger band. Based on Bollinger band trading, we need to see now Monday’s daily candle of green color, but it need to almost engulf today’s bearish candle so that buy signal will be strong enough to trade it long. Based on that, we could enter then on Tuesday immediately when new day will start or potentially wait for a small retrace south and then trade it long. So I will pay close attention to this pair and look for rejection signal of 1.5000 or on the other hand, if we will break strong through  1.5000 support and close bellow it, I will wait for a retest from bellow and then short it. Next support I see at 1.4735.

There is no major red news on Monday neither in UK neither in US.

One thought on “GBPUSD trade plan for Monday 09. of November”

  1. Dimitar Ivanov says:

    10x for the post Igor.

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