mleader1

potential long for next week

Long
FX:GBPUSD   British Pound / U.S. Dollar
GBP is known to recover fast whenever it gets hit by USD. I expect a short 1-2 day consolidation or retracement on DXY which on the other hand indicates similar action will be reflected on GBPUSD . 1.4076 will be very close to the lower trend line of the downtrend structure within the mid-term uptrend. I'm in general bearish on USD and bullish on GBP so...

NOTE: I've been wrong in previous trade ( GBPUSD and EURUSD ) but luckily didn't make much loss. bad red week!

Good luck all and a nice weekend.
Comment: quick update - if the 21, June gets delayed, I fear there'll be some further drop down to the 1.4 level before it takes off again.

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