As GBPUSD was falling very hard from last few days because of some fundamental news specially braxit issues, but now we can see a better reversal and first Elliot wave will start forming here So You can just fly with the flow on GBP, i will never recommend long term trades but keep getting small profits with small exits, its better idea rather than risking heavy funds
GBPUSD bullish breakout from positive sign may test 1.2840-1.2860. This breakout is fade out or real its matter of time but price action suggest positive momentum continue.
We broke and retested a big Daily resistance level as support. We haven't closed a daily candle over this level so its to early to tell but if this price action continues I would expect us to hit the Target Area.
The strong gains that took place in GBP were triggered by remarks from EU Barnier. Barnier stated that the EU is willing to offer the UK a trade deal that has not been offered to any country yet. These comments neutralized Theresa May's comments when asked about brexit, saying that 'it will no be the end of the world' which weakened GBP earlier. In GBPCHF 30min...
Check the past few days posts - Spot on Monster profit accomplished LONG from here.
So looking at the Long term Medium term and Short term trend analysis for GBPUSD here on my chart you can see the current sideways pyramid structure forming our current price point and pressure zone. Based on the key events to come my belief based on all current knowledge of current affairs, political/economy/geo-political issues, my take on GBPUSD value is a big...