Short term correction downdside toward support 1.3265 and 1.3125
Technical Market Outlook:
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The GPB/USD pair keeps trading inside of the ascending channel after the rally has been capped at the level of 1.3395. The Bearish Engulfing candlestick pattern occurred on H4 time frame is still a valid trigger for a pull-back, so the market might test the zone between the levels of 1.3264 - 1.3295 again. The next target for bulls is still seen at the level of 1.3447(swing high) and then at 1.3512. The nearest technical support is located at 1.3306, 1.3295 and 1.3264. The strong and positive momentum supports the short-term bullish outlook.
Weekly Pivot Points:
WR3 - 1.3491
WR2 - 1.3400
WR1 - 1.3359
WS1 - 1.3209
WS2 - 1.3108
WS3 - 1.3061
👍 Before we start, please support this idea with your likes and comments, it is the best way to keep it relevant and support me
The GPB/USD pair keeps trading inside of the ascending channel after the rally has been capped at the level of 1.3395. The Bearish Engulfing candlestick pattern occurred on H4 time frame is still a valid trigger for a pull-back, so the market might test the zone between the levels of 1.3264 - 1.3295 again. The next target for bulls is still seen at the level of 1.3447(swing high) and then at 1.3512. The nearest technical support is located at 1.3306, 1.3295 and 1.3264. The strong and positive momentum supports the short-term bullish outlook.
Weekly Pivot Points:
WR3 - 1.3491
WR2 - 1.3400
WR1 - 1.3359
WS1 - 1.3209
WS2 - 1.3108
WS3 - 1.3061
Comment:
1ST TARGET HIT +135 PIPS