Hey tradomaniacs,
I`m currently waiting for the FED to give the market more fundamental impulses.
Looking at GBP/USD bigger picture we can currently see a mix of bullish and bearish signs.
The primary trend is currently moving sideways and has formed an S/H/S-Pattern, which is usually a trend-reversal-pattern.
Additionally we see a breakout below the primary trendline but so far no break below the neck-zone of the S/H/S-Pattern.
The often respected 200 Moving Average has supported price aswell as you can see at at recent fakeout below support, which is a bullish sign showing absoprtion after attracting bears to sell the S/H/S.
A potential lower high could cause a continuation to the upside, but as long as the FED it likely to announce a tapering until mid 2022 (not later than than september and according to MM) I will stay very cautious with longs.
Need more clarity and confluence before I execute any trades here. ;-)
We either need the S/H/S to get triggered or invalidated!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me
I`m currently waiting for the FED to give the market more fundamental impulses.
Looking at GBP/USD bigger picture we can currently see a mix of bullish and bearish signs.
The primary trend is currently moving sideways and has formed an S/H/S-Pattern, which is usually a trend-reversal-pattern.
Additionally we see a breakout below the primary trendline but so far no break below the neck-zone of the S/H/S-Pattern.
The often respected 200 Moving Average has supported price aswell as you can see at at recent fakeout below support, which is a bullish sign showing absoprtion after attracting bears to sell the S/H/S.
A potential lower high could cause a continuation to the upside, but as long as the FED it likely to announce a tapering until mid 2022 (not later than than september and according to MM) I will stay very cautious with longs.
Need more clarity and confluence before I execute any trades here. ;-)
We either need the S/H/S to get triggered or invalidated!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me