GBPUSD - Combination of wave & pattern setup
We have an ending diagonal structure completed on the daily timeframe, and a first impulse move to the upside from the recent low at 1.2957.
We also have a bullish cypher pattern setup completing around 1.3011.
Looking at the risk event for GBP this week, we have BoE rate statement.
All these factors give us sufficient reasons to keep a close watch on the GBPUSD this week.
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
We also have a bullish cypher pattern setup completing around 1.3011.
Looking at the risk event for GBP this week, we have BoE rate statement.
All these factors give us sufficient reasons to keep a close watch on the GBPUSD this week.
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.