Dear GBP/USD Trading Signal Traders

The trading signal from last time tried to reach out for the 10,000 level, but the buyers’ enthusiasm was not enough and very quickly the price was pushed back down. DAX gave back all of its recent gains and now is showing further signs of bearishness. I would not trade it until I have a confirming reversal or continuation signal.

The GBP/USD trading signal from today is revealing further strength in the British Pound. The daily price action candle formation is a bearish rejection or a pin bar. This is leading me to believe that more buyers will join the buying in the sessions to come. I will be looking to go long after a small retracement towards the 1.4400 level. My stop-loss would be placed just under 1.4300. My first target would be the level of 1.4600. Depending on how price reacts to this level, I will decide whether to hold or cut my position.

Happy Trading,

Colibri Trader

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