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GBPUSD is at daily resistance but supply at 1.4000 is a key target

by Neville Hornsey
23 July 2021
in Forex
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Today’s UK Flash PMI’s were disappointing, considering the European equivalents all beat expectations. The pound now has to rely on the US dollar falling heavily in the near term or succumb to finding value at lower levels. There are a lot of orders resting at 1.4000 with a significant amount just below current levels, so my idea is to wait for a reversal candle and trade up to the big figure.

For more trading details, please check the hyperlinks with time stamp indicated from the video:

0:40 GBP/USD

1:46 US DOLLAR INDEX

2:13 EUR/GBP

Tags: DXYEURGBPGBPUSDPMIUS Dollar
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