WEEKLY ANALYSIS GBPUSD! SHORT ENTRY IN H4 CHART!
Good day traders, hope you all have a pleasant weekend ahead. Weekend has always been the best day to do self reflect in our trades throughout the week, as well as to have weekly analysis to ready for the week ahead!
From DXY, USD has been slowly gaining strength to move to the upside. Therefore, we believe that the upcoming week will be pretty bullish for USD against other risk-sentiment currencies.
For GBPUSD, price has break below the uptrend (as indicated with orange color trendline) and retested the trendline. Therefore, price has gradually melting to the downside.
To enter trade with a good risk reward ratio, we will be waiting for price to bounce back to 1.24075 before finding 1.22762. Therefore, we will be patiently waiting for the price to retest 1.24075.
Entry price: 1.24075 (Sell limit)
SL: 1.24620
TP: 1.22762
Always go for a clear trading strategy and enter trade with good risk management. It's always you versus yourself instead of you versus the market.
From DXY, USD has been slowly gaining strength to move to the upside. Therefore, we believe that the upcoming week will be pretty bullish for USD against other risk-sentiment currencies.
For GBPUSD, price has break below the uptrend (as indicated with orange color trendline) and retested the trendline. Therefore, price has gradually melting to the downside.
To enter trade with a good risk reward ratio, we will be waiting for price to bounce back to 1.24075 before finding 1.22762. Therefore, we will be patiently waiting for the price to retest 1.24075.
Entry price: 1.24075 (Sell limit)
SL: 1.24620
TP: 1.22762
Always go for a clear trading strategy and enter trade with good risk management. It's always you versus yourself instead of you versus the market.
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