M1_GHOST

Bullish trend in upcoming week for GBPUSD

Long
FX:GBPUSD   British Pound / U.S. Dollar
i believe that the upcoming week is going to be a bullish week for GBPUSD, due to larger institutional trendlines and S/R lines. the overall trend drawn for GBPUSD is bullish; based on Weekly timeframe drawn trendlines, however as there is a lot that can happen in such a large timeframe. the trendline for the daily timeframe drawn in yellow, which has hit the support level. indicating a bullish reversal, with a tweezer top pattern formed at support on the daily timeframe, a bullish engulfing chart pattern formed on the 4HR timeframe and a morning star on the 2HR timeframe. on top of that, there's a railroad pattern formed at resistance on the 1hr Timeframe...etc there are several indications of bearish movement towards my resistance level for the week. I estimate that there will be roughly a 200pip minimum bullish movement; with lots of minor downtrends formed in the major uptrend.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.