FullTimeTrader
Long

GBPUSD-What's next? weekly long term analisis

FX:GBPUSD   British Pound/U.S. Dollar
394 1 6
Looking at this W1 chart we have various reasons for a bullish bias:

1) False break: price broke a very strong M1             support and retraced inmediately.
2) Bullish divergence on MACD moving averages and the histrogram. This a very strong bullish signal in the divergences world.
3) Four lows in a row: another strong bullish signal in the divergences
4) Inside bar candlestick pattern: a bullish sign
5) Price broke the bollinger bands: when it happens tends to retrace to the middle of bollinger bands (first target) and the opposite band (second target).

The price is now bouncing from the M1             support, could be a chance to enter the market on D1 or lower timeframes.
Lets see what happens.

Best regards
klapa
2 years ago
oke
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out