Hope you all are doing good!!
I expect GBPUSD to go UP
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do...
The trade was provided in consideration of various factors one of them being Gu changed the trend , Gu broke the trendline and it has retested Fib zone of 61.8. Now lets see it fly to 1.38000 hopefully
- We had weak momentum to the downside creating descending channels breaking the lows and retracing showing price does not want to continue to the downside
- At the bottom we got another channel with a smaller descending channel showing more weakness
- we get a strong push that breaks through the channel with little to no wicks
i see a possible opertunity on GU for a short position , i am going to let the price action do the work and see how the pair is going to react on 1.37785 level. i am expecting to get another touch on the bearish trendline , as the price has rejected also the specific level 3 times already... waiting for the confirmation.
If the weekly candle opens and breaks above then I expect the price to drop down further and then monthly to do it continuation to the downside. That is my view as of now
If weekly candles do a pullback to gather more volume then meaning it could move higher.