GBP/USD Forecast: Short then long
Here is our analysis on GBP/USD
RECAP:
In our previous analysis GBP/USD was trading at 1.38200
We were bullish on the pair but still cautioned some downward movement on the pair due to a bullish DXY
The pair touched support @ 1.37800 triggering our Sell Stop & hitting our TP @ 1.37800
Banking us 400 pips on the pair.
WHAT TO EXPECT:
We are still bullish on the pair.
We expect the pair to break above resistance @ 1.38600 & test next resistance @ 1.39500
If the pair fails to break above resistance @ 1.38600 we expect it to fall to support/resistance at 1.37500
We have set-up a triangle formation on our 4H chart using trendlines to guide us in placing our positions
Pair has to break above downtrend trendline to confirm upward movement
OUR POSITIONS:
Currently @: 1.38300
Buy Stop @: 1.38800
Buy Stop TP @: 1.40
Sell Stop @: 1.37700
Sell Stop TP @: 1.37500
link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP:
In our previous analysis GBP/USD was trading at 1.38200
We were bullish on the pair but still cautioned some downward movement on the pair due to a bullish DXY
The pair touched support @ 1.37800 triggering our Sell Stop & hitting our TP @ 1.37800
Banking us 400 pips on the pair.
WHAT TO EXPECT:
We are still bullish on the pair.
We expect the pair to break above resistance @ 1.38600 & test next resistance @ 1.39500
If the pair fails to break above resistance @ 1.38600 we expect it to fall to support/resistance at 1.37500
We have set-up a triangle formation on our 4H chart using trendlines to guide us in placing our positions
Pair has to break above downtrend trendline to confirm upward movement
OUR POSITIONS:
Currently @: 1.38300
Buy Stop @: 1.38800
Buy Stop TP @: 1.40
Sell Stop @: 1.37700
Sell Stop TP @: 1.37500
link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.