JuanHernandez

Potencial Bear Gartley Pattern

FX:GBPUSD   British Pound / U.S. Dollar
62 0 9
Fundamental Analysis:
The UK economy has continued to show a high degree for the Brexit, The EU while continued increases the inflation have now resulted in market participants expecting a rate hike potentially as soon as the end of 2017. Although there are increasing expectations for the next BoE move to be a hike instead of a cut, the risks to the UK economy remain to the downside as the ultimate test will begin once Article 50 is actually triggered. For those reason GBP is at bear fundamental bias. In the other side, USD has a bullish fundamental bias , because is going to hike 3 times its interest in this year.The Fed's first interest rate hike of 2017 is likely to come next month because of inflation indicators.
Sentiment Analysis:
By the COT´s datas; we can see that the sentiment for the GDP is bearish with -72%.
Technical Analysis:
There is a nice Bear Gartley Pattern in a consolidation.
Trading levels:
Entry: 1.2640
Stop: 1.2739
Trg1: 1.2549
Trg2: 1.2755
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