About Us

The Oil & Gas Journal, first published in 1902, is the world's most widely read petroleum industry publication. OGJ delivers international oil and gas industry news; analysis of issues and events; practical technology for design, operation, and maintenance of oil and gas operations; and important statistics on energy markets and industry activity.

OGJ is edited to meet the needs of engineers, geoscientists, managers, and executives throughout the oil and gas industry. It is part of Endeavor Business Media, Nashville, Tenn., which also publishes Offshore Magazine.

Endeavor Business Media’s Petroleum Group also produces targeted e-Newsletters; hosts global conferences and exhibitions, seminars, and forums; and publishes directories, technical books, print and electronic databases, surveys, and maps.

Additional Information

Website & Technical Help

For help with subscription purchases or refunds, or trouble logging into the paid subscription content on www.ogj.com, please contact Customer Service at [email protected] or call 1-847-559-7598.

For more customer service information, please click here.

GBP/USD forecast: anticipating a decline as price nears key resistance

By: Invezz
GBP/USD trading strategy
  • Buy/sell asset: Sell GBP/USD
  • Entry price: 1.27590
  • Stop loss: 1.28950
  • Leverage: 1x
  • Take profit 1: 1.2600
  • Take profit 2: 1.2400
  • Take profit 3: 1.22090
  • Timeframe: 1-2 weeks
  • Maximum profit: 4.31%
  • Maximum loss: 1.06%
GBP/USD chart and technical analysis

GBP/USD has been in a bullish trend since last month, however, the price is now approaching a major daily resistance level at 1.27590 from where it will possibly make some correction to the downside.

I am expecting the price will drop from this level as this is a strong resistance level and the overall daily trend is still slightly bearish.

The price will possibly drop to the 1.22089 support level in the coming days. Price will possibly make another small push towards the upside and will retest the 1.27590 resistance level which is our sell entry price for this trade.

GBP/USD fundamental analysis

Fundamentally, the US dollar has been dropping which is pushing the price of GBP/USD upward. However, this will soon reverse as the dollar index is also approaching a major support level.

Moreover, the Initial jobless data will be published tomorrow and if the data turns out positive the price of GBP/USD will drop and if it turns out negative the price of GBP/USD will go up.

British pound to US dollar trade idea takeaways
  •  GBP/USD is likely to drop to the 1.22090 support level in the coming days.
  • The price will possibly reach the 1.27590 resistance level before the drop.
  • Multiple take-profit levels have been added to secure profit along the way.
  • The risk-to-reward ratio on this trade is 1:4.
  • The entry and stoploss prices have been placed at secure levels with the least probability of getting hit.
  • Good luck!

The post GBP/USD forecast: anticipating a decline as price nears key resistance appeared first on Invezz

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.