sbeavis
Long

GBPUSD Buy Setup - good news is coming

FOREXCOM:GBPUSD   British Pound / U.S. Dollar
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2
Technically we are into overbought territory and have a MACD that looks like it really wants to turn up.

Similar setups can be seen on other GBP pairs - e.g GBPNZD .

Expect good news from BOE Gov Carney or some positive update re Brexit which should really turn the tide on the pound.

If no noticeable upside price action prior, we may have to wait until Friday for US data - i.e Jobless claims & durable goods, to be the catalyst here.

Comments

I was stopped out unfortunately. But I am thinking of going again as it looks as though the same setup is now looking to move upwards from 1.2880. I'd be using a 60 pip stop and a target of 1.3180.

Apologies as I've not worked out how to post an updated chart.
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