GBPUSD-sitting on EMA 55-projected move before NFP
Hello, this pair was consolidating many days but tomorrow will be the "D" day and price will explode strongly, my view is to the upside.
After a period of low volatility the price always makes BIG volatility. It reminds me the gold trade.
Its clear that the NFP news will be the catalyst, my view is that price will move to the upside (bad NFP data?)
According to this technical D1 and H4 (see below) analysis i have some reason for a long bias.
- Price is sitting on EMA55 (my prefered EMA)
- Strong pychonumber 1.55000 acting as support
- double bottom divergence (i learned this setup from a member on tradingview)
- trendline support
This setup suggest a big triangle is forming on D1 chart.
First target: last highs
Second target: harmonic AB=CD
The H4 setup is also very reliable for me.
Be carefull managing your risk because NFP news are very volatile.
Best regards
After a period of low volatility the price always makes BIG volatility. It reminds me the gold trade.
Its clear that the NFP news will be the catalyst, my view is that price will move to the upside (bad NFP data?)
According to this technical D1 and H4 (see below) analysis i have some reason for a long bias.
- Price is sitting on EMA55 (my prefered EMA)
- Strong pychonumber 1.55000 acting as support
- double bottom divergence (i learned this setup from a member on tradingview)
- trendline support
This setup suggest a big triangle is forming on D1 chart.
First target: last highs
Second target: harmonic AB=CD
The H4 setup is also very reliable for me.
Be carefull managing your risk because NFP news are very volatile.
Best regards
