After the market rallied up by 150 pips, GBPUSD is now moving sideways creating yet a mini bullish flag.
It is expected that the price moves upward and break the flag continuing the original uptrend.
- 10-15 pips within the bottom channel line. (approx. @ 1.29700)
- Stop Loss @ 1.29500
- Take Profit @ 1.30500
WTI Oil is currently on a major supported and the price has been respecting the uptrend line.
It is forecasted to breakout to the downside according to the technical analysis as the bulls are running out of steam in addition to the major resistance handle.
However, if the price breaks through the 52.50 handle, another setup will be posted.
GBPUSD is currently on a channel with a lot of outside price noises due to high volatility; however, it does not indicate that the channel isn't valid.
News is coming up as the government confidence vote is happening in UK and is forecasted to push down indicated by the tragic defeat of Theresa May
during the Brexit vote.
- Entry Price @...
The price has already broken a triangle pattern showing a strong push to the downside.
I am expecting a pullback back into the triangle (uptrend line part) and further to push to the downside.
- Entry Price @ 10 Pips near the triangle
- Stop Loss @ 0.71900
- Take Profit @ 0.71520
EURUSD is currently on a bearish flag and has 3 possible setups; 2 breaking the flag to the upside and 1breaking to the downside.
Setup #1 (Breaking to the upside):
- When the market price breaks to the upside and has broken the 1.15000 level, you can enter the following order:
- But Stop @ 1.15100
- Stop Loss @ 1.48300
- Take Profit @ 1.16000