The GBPUSD made a 'double top-ish' formation and the 4hr seems to confirm the bounce. I waited for my indicator to confirm the sell before I jumped in. I waited for a pull-back after the sell. I will ride the (what I expect to be a very choppy) drop back to support.
I am short @ 1.2348, with a tight stop @ 1.2451 and my target inside support @ 1.2135
We are looking at a trend change in British pound so pay close attention to events ahead. A close above 12674 will be bullish and a close below 12200 will warn of possible decline.
A risk to see complete monetary reform as early as 2018 exists, the long term risk adjusted in real terms for inflation also remains a long term risk.
This market has remained...
MARKET ANALYSIS: The pair is now trading near the resistance zone, near after a retest if possible we can expect huge downfall to the next possible support level. Only if the resistance zone holds on. So lets wait and check what the market does after opening. Cheers!
This based on support and resistance analysis plus it moves in a channel continually breaking any hopes of a rising wedge. Plus a look at indicators point us towards a strong buy, with Moving Averages validating this bull market. Should expect entry in the next 4 hours
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
This is only a trading capability - no recommendation !!!
Next wkk i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
Traders!
Just an update on the progress of GBPUSD. We're in a squeeze zone right now. Watch out for the breakout either top or bottom, always confirm with a break and close before placing orders.
Good Luck!
