GBPUSD moved as expected for week 10, and if we were to enter a short starting Monday, you would enjoy a straight profit through the week, how awesome is that.
In week 10, we the GBPUSD completed a 3 level bearish move, it was a great move and I am sure it trapped many short traders.
Looking at the current analysis, the GBPUSD seems to be forming the second leg of the double bottom, which is seen as a reversal pattern.
If a double bottom is being formed, we can enter a long and wait for another 3 level of movement to be completed before we can switch to sell again.
For week 11, I am expecting to long the market, given the completion of 3 levels of bearish movement.
I hope all traders to continue with a profitable Week 11 ahead. Please share your thoughts below, like and follow me for my weekly analysis on EURUSD , GBPUSD , USDJPY , and USDCHF!
In week 10, we the GBPUSD completed a 3 level bearish move, it was a great move and I am sure it trapped many short traders.
Looking at the current analysis, the GBPUSD seems to be forming the second leg of the double bottom, which is seen as a reversal pattern.
If a double bottom is being formed, we can enter a long and wait for another 3 level of movement to be completed before we can switch to sell again.
For week 11, I am expecting to long the market, given the completion of 3 levels of bearish movement.
I hope all traders to continue with a profitable Week 11 ahead. Please share your thoughts below, like and follow me for my weekly analysis on EURUSD , GBPUSD , USDJPY , and USDCHF!
