GBPUSD LONG

8 jul 2020

Pretty much every idea/analysis I have seen on trading view for the week so far have predicted that this pair will fall at the first level highlighted on my chart (1.646) as it has previously tested this level twice and been rejected. I think 90% independent traders who trade this pair will already have a sell limit in place which when it hits will create a very small profit temporarily before hitting everyones stop loss and rising to the second level shown on my chart when people will re-enter again making a small profit to start but ultimately getting stopped out. This could just be me being a sceptic but i think after everyone has been stopped out on their shorts and the pair has some good liquidity it will finally fall but this all depends on the fundamentals with so much being up in the air at current. It could continue rising until it touches the trend line for the weekly chart.

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