Analysis of #GBPUSD
Hello friends,
i have come to believe that the market as we know it for the past couple of months is going to change, what I meant is that all the structure levels and the supply and demands zone are going to break, check my recent post on EURUSD for more, link below this one
here we have another example, the GBPUSD, this market was moving mainly on the weak dollar, some would argue that it was moving on the Brexit news, I say what news!? was a good one?
no, it was not, all this pound has done is rallying on a weak dollar, but here is the Brexit part of this rally, traders do believe there a good story for the pound ad ultimately will have a deal by DEC-2020 or January-2021.
looking at the chart its tels a perfect story, for me, it is an ahead and shoulder story, obviously big money first buy was 1.2100, then again when it falls to 1.2700, and i don't see them giving up there positions just yet, i don't think they have any choice, what they will buy, Dollar god forbid!
i think the pound might continue rallying and break the resistance level which we could look after that for a buying opportunity targeting the resistance level near 1.4000 and any drop toward 1.30ish will be welcome to buy, ofc we need nothing gloomy around the Brexit negotiations
I hope this idea earns your likes and comments, that will really support me to keep providing you valuable analysis
Really appreciate your support and feedback
Check today analysis below⠀
_____________________________________________________________________________⠀
-DISCLAIMER: This Information Is Not a Recommendation to Buy or Sell. It Is to Be Used for Educational Purposes Only⠀
-⚠ Please Note This Is Just a Prediction and I Have No Reason to Act on It and Neither Should You
Hello friends,
i have come to believe that the market as we know it for the past couple of months is going to change, what I meant is that all the structure levels and the supply and demands zone are going to break, check my recent post on EURUSD for more, link below this one
here we have another example, the GBPUSD, this market was moving mainly on the weak dollar, some would argue that it was moving on the Brexit news, I say what news!? was a good one?
no, it was not, all this pound has done is rallying on a weak dollar, but here is the Brexit part of this rally, traders do believe there a good story for the pound ad ultimately will have a deal by DEC-2020 or January-2021.
looking at the chart its tels a perfect story, for me, it is an ahead and shoulder story, obviously big money first buy was 1.2100, then again when it falls to 1.2700, and i don't see them giving up there positions just yet, i don't think they have any choice, what they will buy, Dollar god forbid!
i think the pound might continue rallying and break the resistance level which we could look after that for a buying opportunity targeting the resistance level near 1.4000 and any drop toward 1.30ish will be welcome to buy, ofc we need nothing gloomy around the Brexit negotiations
I hope this idea earns your likes and comments, that will really support me to keep providing you valuable analysis
Really appreciate your support and feedback
Check today analysis below⠀
_____________________________________________________________________________⠀
-DISCLAIMER: This Information Is Not a Recommendation to Buy or Sell. It Is to Be Used for Educational Purposes Only⠀
-⚠ Please Note This Is Just a Prediction and I Have No Reason to Act on It and Neither Should You
