There could be volatility expansion for GBPUSD.Hence long position
I'm expecting this structure.Maybe it would form
Buying is still likely for GBPUSD .
The market seems to be in uptrend. What forms in that box on the chart will determine where to buy. But it's advisable to wait for a buy @ 1.0785. You can sell @ 1.08720
That's only if that pattern forms
Let this guide your GBPUSD trading decision. Buy at lower price and Take profit when the resistance is broken
You may enter sell trade in those areas.
Consider this EURUSD chart before you trade
Check out this chart and consider the fact that GBPUSD is trading below 200 SMA
Buy USDJPY : Check this chart for confirmation
What's your thought about this ranging market ?
What do you think about the volatility contraction happening here?
GBPCAD is going to test 200 SMA for selling or buying pressure. Currently, it's trading sideways and Pivot points form a major entry point. If the next Pivot point (available on 05/05) permits selling pressure, then the increased volatility to 1.7200 downward is guaranteed.
I believe the EURUSD exchange rate will go higher next week. Hence, it's recommended to LONG EURUSD. Check this chart for relevant value area.
Certainly EURUSD will be finding its way up to to 1.11500. So ,be prepared for more upward price movement and bullish flag pattern .