GBPUSD from GetKnowTrading

[Frano Grgić]

GBPUSD Forecast – Bearish Pin Bar Risk, $1.22000 Key Level

The price started the week with a small bullish candle and ended the week with a small bullish candle which makes the week bullish.

Thursday and Friday candles returned the price higher and closed the week as a bullish.

The price is now inside the indecision area which the price needs to break to determine future move.

With these strong resistance levels the price will have a hard time to break above, but if the price manages to close above $1.22000 level the next target is $1.23000 which is the next confluence of resistance levels on a daily and weekly time frame.

 

[Frano Grgić]

GBPUSD Forecast – Price Heading to $1.24600

The Pin bar formed right on the support level, but the support was without confirmation.

The bearish Pin bar was cancelled with Tuesday’s strong bullish engulfing bar that was a confirmation that the price will see higher levels.

The price is heading to $1.24600 which is the next resistance level.

If the price manages to close above $1.24600 the next target will be weekly resistance level at $1.26000.