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🟢Forex Pair:
GBP/USD
⚪Technical Analysis:
Since the beginning of January 2021, the price has been moving with a strong bullish movement, creating an interesting rising wedge pattern.
It has reached twice its dynamic resistance line and it is probably approaching to re-test the same level.
The price is just moving around a strong daily and weekly S/R zone at about 1.37500 and the next price action will be essential to understand the next market movement.
🔴Conclusion:
Since the price got a strong bullish impulse, I can properly see how it is slowly losing strenght to continue on the same trend.
I'm confident to see the price re-testing the dynamic resistance line and I'll be waiting for a proper rejection before planning my next short trade. My first target would be the level at about 1.3700 and the second target on the level at about 1.36300.
I don't think is the right moment to get a position, so I highly suggest to be patient and wait for a better entry point.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
GBP/USD
⚪Technical Analysis:
Since the beginning of January 2021, the price has been moving with a strong bullish movement, creating an interesting rising wedge pattern.
It has reached twice its dynamic resistance line and it is probably approaching to re-test the same level.
The price is just moving around a strong daily and weekly S/R zone at about 1.37500 and the next price action will be essential to understand the next market movement.
🔴Conclusion:
Since the price got a strong bullish impulse, I can properly see how it is slowly losing strenght to continue on the same trend.
I'm confident to see the price re-testing the dynamic resistance line and I'll be waiting for a proper rejection before planning my next short trade. My first target would be the level at about 1.3700 and the second target on the level at about 1.36300.
I don't think is the right moment to get a position, so I highly suggest to be patient and wait for a better entry point.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
