05.11.201911:43 Forex-elemzések és áttekintések: November 5, 2019 : GBP/USD showed respect for supply-level around 1.2980. Further Bearish decline towards 1.2780 is anticipated.

Ezeket az információkat marketingkommunikációnk részeként küldjük el lakossági és professzionális ügyfeleink számára. Nem tartalmaznak és nem tekintendők befektetési tanácsnak vagy javaslatnak, sem bármilyen pénzügyi instrumentummal való tranzakcióra vagy kereskedési stratégia használatára irányuló ajánlatnak vagy felkérésnek. A korábbi teljesítmény nem garantálja vagy jósolja meg a jövőbenit. Az Instant Trading EU Ltd. nem képviseli vagy garantálja a szolgáltatott információk pontosságát vagy teljességét, illetve nem felelős bármely, az elemzéseken, előrejelzéseken vagy a Vállalat munkatársa által adott információkon alapuló befektetések esetleges veszteségéért. A teljes felelősségkizárás itt található.

Few weeks ago, the neckline of the depicted Double-Bottom pattern (1.2400-1.2415) was breached to the upside allowing further bullish advancement to occur towards 1.2800 then 1.3000 where the GBP/USD pair looked OVERBOUGHT.

Shortly After, the GBP/USD pair has failed to achieve a persistent bullish breakout above the depicted SUPPLY-zone (1.2980-1.3000) which corresponds to a previous Prominent-TOP that goes back to May 2019.

Moreover, the depicted ascending wedge reversal pattern has been confirmed indicating a high probability of bearish reversal around the price levels of 1.2950-1.2970.

That's why, a quick bearish movement was anticipated towards 1.2780 (Key-Level) where some bullish recovery was recently initiated on October 24.

The recent Bullish rejection around the price levels of 1.2780, indicated another temporary bullish movement towards 1.2980-1.3000 where another long-term bearish swing was expected to occur.

Moreover, a quick bearish breakout below 1.2780 should be achieved to enable further bearish decline towards 1.2600-1.2650 where some bullish recovery should be anticipated.

Please note that bullish breakout above 1.3000 invalidates the mentioned bearish outlook temporarily until re-closure below 1.2970 is established again.

Trade Recommendations:

Intraday traders were advised to look for bearish rejection around 1.2980-1.3000 as a valid SELL signal with T/P levels projected towards 1.2780 and 1.2650.

It's already running in profits. Further bearish decline is expected to occur. Hence, S/L should be lowered to 1.2950 to secure some profits.

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