GBPUSD LONG AHEAD OF FOMC Long
British Pound vs US DollarPepperstone
Description
⋅ Recently, the GBPUSD has been obviously bullish, marked by higher highs and higher lows in the daily time frame.
The last few days has given us a descent pullback to the confluence of June 5 trendline and the market structure (previous high).
GBPUSD found support at this confluence point bouncing off to print a bullish engulfing candlestick on daily time frame.
A pullback to the top of the falling channel (1.2850-1.2840) on 4hr time frame will offer bulls a long opportunity with a very good risk reward ratio.