GBPUSD Bearish Below 1.2500

by Justin Bennett  · 

July 17, 2019

by Justin Bennett  · 

July 17, 2019

by Justin Bennett  · 

July 17, 2019

Important: This site uses New York Close Forex Charts so that each 24-hour session starts and ends at 5 pm EST. These charts are essential for trading price action.

GBPUSD is hitting fresh 2019 lows this week.

It comes following last week’s close back above the 1.24800 – 1.2500 support area.

However, I was never interested in buying GBPUSD. I even mentioned that on Sunday.

Here’s what I wrote:

As long as the 1.2500 handle is intact as support, sellers need to be extra cautious here, in my opinion.

That said, I’m not buying the pound.

Despite closing back above the 1.2500 area last week, the GBPUSD still looks bearish overall.

That means I only want to short pops into resistance.

That turned out to be the right call.

From here, though, it’s all about whether or not sellers can defend the 1.2480 region as new resistance.

But as long as GBPUSD stays below it on a daily closing basis, I favor shorting strength.

Key support comes in just above 1.2300 followed by 1.2110.

Want to see how we’re trading GBPUSD? 

Click Here to join us and save 40% – Ends July 31st!

GBPUSD new resistance area

Continue Learning

Leave a Reply

Your email address will not be published. Required fields are marked *

  1. Now you can get access to the same professional Forex charts I use!

    Get access today:

    These charts give you five 24-hour sessions each week. They are essential if you trade from the daily or 4-hour time frames. Anything else can produce false buy and sell signals.

    Download the platform here:

  2. So we can buy at 1.2310 and afterwards sell at 1.2480.?? Is that what it means?? I like your analysis but sometimes some terms bypass me i dont seem to understand them. Kindly.

  3. HI JUSTIN ,
    no doubt my friend in the way you explain the whole thing of forex,in fact ever since i knew you and start following your style feel so happy even though i had some training with big school in this matter ,still yet your style still remarkable ,i promise that i will take the program just give some to finish what i have in hand ,and will jump on the train.

  4. In honest opinion I do love and respect your analysis on live chat . Since I started following your work of art I began to understand the Market better. Justin your are the Greatest Mentor ever.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}