Alright, next week I'm focusing on GBP pairs as the beginning of the week starts with news coming from GB.
As Trump is supporting Brexit and the "great deals" to be made between the US and GB, I'd like to see this pair finally to make some moves to the upside as the other GBP pairs have already started to show some strength after falling for the whole May.
However, there is also SNB news coming from CHF on Thursday, so I'm expecting sharp moves from the GBP news to hit the 1.27 handle before Thursday, which is the first target.
Stop loss is good somewhere below the demand zone (rectangle), but it's good to have some room to breathe.
As Trump is supporting Brexit and the "great deals" to be made between the US and GB, I'd like to see this pair finally to make some moves to the upside as the other GBP pairs have already started to show some strength after falling for the whole May.
However, there is also SNB news coming from CHF on Thursday, so I'm expecting sharp moves from the GBP news to hit the 1.27 handle before Thursday, which is the first target.
Stop loss is good somewhere below the demand zone (rectangle), but it's good to have some room to breathe.
Comment:
We're probably witnessing a shakeout and bulls are still holding the zone, these levels are good ones to enter the trade to get small risk for a good reward.
Comment:
The move has started and the news outlook from the UK was better than expected.