GBPUSD - POTENTIAL LONG AND SHORT SETUP FOR NEXT WEEK!
We can already see price testing support area @ 1.29285, as the markets closes for the weekend. What we could see during the opening of the London market session is either price re-testing the support area, so the big boys can stop hunt those who are holding their sell positions over the weekend, then a complete bullish movement. Or for price to continue on the uptrend to resistance level 1.29699.
We see resistance area at 1.29699 previously tested. Only Short @ 1.29699 when the London session opens which is at 8am. However, from 7:30am check to see if a strong bearish candle opens, which will be an indication to short, BUT Place the trade at 8am. Unless you are very confident, you can enter early from 7:45am. TP 1 @ 1.29285. Please note only enter this trade when price fails to breakthrough 1.29699. This could either be on Monday or Tuesday! MY TIME FRAME I SWITCH BETWEEN 15 MINUTES & 1 HOUR.
We see resistance area at 1.29699 previously tested. Only Short @ 1.29699 when the London session opens which is at 8am. However, from 7:30am check to see if a strong bearish candle opens, which will be an indication to short, BUT Place the trade at 8am. Unless you are very confident, you can enter early from 7:45am. TP 1 @ 1.29285. Please note only enter this trade when price fails to breakthrough 1.29699. This could either be on Monday or Tuesday! MY TIME FRAME I SWITCH BETWEEN 15 MINUTES & 1 HOUR.