$GBPUSD | Long Stops Hunted

١٣ مايو ٢٠١٨

Weekly downside break below $1.3500 saw long stops setups triggered by algorithms pushing pricing to converge towards the 2nd bullish trend line at $1.3445 level before bouncing sharply to current levels $1.3540. Next week I see price action resuming it's bounce trajectory towards the $1.3711 range supported by strengthening EUR cross pairs and waning USD longs. Countering this move is a further strengthening action of UKOIL nearing yearly highs at $77.00 USD, but a breather maybe in the works for a minor pullback, setting the stage for GBPUSD bounce comeback.