-Random idea for GBPUSD for this up coming week. -This pair has been short for the past month. and i would like to see a continuation for June.
-We might see a small restracement into 1.34500 before going further.
Possible 350+ pips to get into.
Comment
⋅
MONTHLY So just by using moving averages, i think that GU will come down 1.30 which is the 20MA on Monthly.
WEEKLY But i would like to see the new weekly candle to come back up and test the 50MA as resistance (1.34500).
the 100ma on weekly is at the same level as the 20 on the monthly (1.30), this could act as support.
DAILY so with the starting week we could see price coming back to 10MA (1.34500) on daily acting as resistance.
4HR This is the same place where I already said. This could come back and test the 50 on 4 hour. This area is also where the 50% fib retracement is. (1.34500)