GBP/USD: Imminent Price Breakout?

This week started profitable with our sell position in the EUR/USD at 1.1035. The pair fell towards 1.0960 and if also 1.0940 breaks, we expect further losses towards 1.0880.

We will now keep an eye on the GBP/USD which looks primed for an upcoming price breakout of its narrow trading range. This morning we will pay particular attention to prices either above 1.3125 or below 1.3090. A higher target is at 1.32, whereas on the downside, the 1.30-zone could be tested again.

 

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

Daily Forex, DAX And Crypto Signals for 5/4/22:

If you are keen to know where we put Take-Profit and Stop-Loss, if we trade on a specific day or not and how we manage open positions, subscribe to our signals.

EUR/USD*

Long @ 1.1015

Short @ 1.0930

GBP/USD

Long @ 1.3165

Short @ 1.3080

DAX® (GER30)

Long @ 14520

Short @ 14470

ETH/USD

Long @ 3530

Short @ 3480