We have seen GBP / USD fall over recent weeks. Whereas I still believe there are opportunists looking to profit through shorts, I will be going long from the week commencing 28th May.
Here is why;
1. We have gone past the 2018 Daily low (Investors negative around the pounds outlook) and often we see faster recoveries when a major support is broken as traders do not have a mental barrier at these levels.
2. We have tested the 13300ish support once in the light of the inflation news and I expect this to become a major support during this remaining days of this week.
3. Thursday 24th and Friday 25th will be days of (what I expect) news testing this 13300 level again and possible a slight break under it (Opportunity to short before)
4. However I will be setting a trade to go long around this level to profit from next weeks recovery through no new news and breaking through past resistance levels.
Here is why;
1. We have gone past the 2018 Daily low (Investors negative around the pounds outlook) and often we see faster recoveries when a major support is broken as traders do not have a mental barrier at these levels.
2. We have tested the 13300ish support once in the light of the inflation news and I expect this to become a major support during this remaining days of this week.
3. Thursday 24th and Friday 25th will be days of (what I expect) news testing this 13300 level again and possible a slight break under it (Opportunity to short before)
4. However I will be setting a trade to go long around this level to profit from next weeks recovery through no new news and breaking through past resistance levels.
Comment:
Now seeing what i said
Comment:
As I mentioned in my previous post, we are now seeing the test of that 1.3300 support level .
The price went higher than I had expected, however has now hit the 1.3300 as I said.
Still on for the 28th May 2018 buy.
The price went higher than I had expected, however has now hit the 1.3300 as I said.
Still on for the 28th May 2018 buy.