According our weekly review for GBPUSD, for this week we planned slowly bearish pressure for this currency pair. I repeat my question: “Do you like roller coaster?” Every day on this week the price tried to jump above resistance level at 1.2907, but daily close prices was always below this resistance level – clearly it was already 2 attempts!!
Today afternoon comes Nonfarm Payrolls report in USA and we think that if on daily time frame (D1) the price will stay below 1.2907 it could be the main reason of GBPUSD SELL OFF.
Today we saw that GBPUSD made attempts to come near to resistance level at 1.2907. Now price stay at 1.2855 and we still see weaker bearish behavior with probable target at 1.2750-1.2720
Currency pair GBPUSD rolled down to the support level 1,2930 as planned in our forex report yesterday and we reach our target. ForexTeam overall profit from selling GBPUSD on this week is 108 pips 😉
Congratulations to all, who copy our ForexTeam signals automatically in Metatrader!
here we are with comments to USD index price movements. As we mentioned in our USD index weekly review from 21.05.2017, now USD index found support at 96.80 and on the W1 time frame we see “pin-bar” pattern. So, if this pattern stay for the rest of this week it could be bulls sign for the future.
Let’s talk briefly about GBPUSD this week. Since Monday (22.05.2017) our traders sold GBPUSD already 7 times and earned +82 pips. We think that this pair could roll down to the strong support level at 1.29-1.2920, if support level at 1.2956 will be broken.
