It's been a rough week for GU. New trading range is created.
Last week fundamental drove the GBP out of technical's capability.
Time for a new overview on this pair.
1. Monthly
Price did not be able to break the monthly resistance, or we can say retest the monthly resistance, Till now GU appears to be still in downtrend.
2. Weekly
Still in longterm downtrend, uptrend started since August. Will this trend strong enough to break the monthly trend?
3.Daily: let's have another look
My overview:
1. Last 2 days GBP recovered so strong that many trader did not adapted in time, including me, with 3 stoploss from GBP's pairs. This easily make it in the overbought state.
2. price is in the Daily uptrend, and monthly downtrend's sell zone. The confluence here sure will sensitve and create traps.
3. Brexit deadline is getting closer. FOMC coming in 2 weeks. This pair will sure have high volatilty. Best idea for now is to stay out side untill trend on weekly is confirmed.
Time for a new overview on this pair.
1. Monthly
Price did not be able to break the monthly resistance, or we can say retest the monthly resistance, Till now GU appears to be still in downtrend.
2. Weekly
Still in longterm downtrend, uptrend started since August. Will this trend strong enough to break the monthly trend?
3.Daily: let's have another look
My overview:
1. Last 2 days GBP recovered so strong that many trader did not adapted in time, including me, with 3 stoploss from GBP's pairs. This easily make it in the overbought state.
2. price is in the Daily uptrend, and monthly downtrend's sell zone. The confluence here sure will sensitve and create traps.
3. Brexit deadline is getting closer. FOMC coming in 2 weeks. This pair will sure have high volatilty. Best idea for now is to stay out side untill trend on weekly is confirmed.
