GBP USD Long
GBP USD - Week of 06/08/2023
Based on the upcoming news, GBP is not expected to be strongly impacted until Friday. Therefore, from Monday to Friday, I anticipate an uptrend for GBP USD. Looking at the daily chart, GBP USD is within a channel, and this week, the price is likely to rise to the upper channel until Friday before bouncing back and moving downward. As a result, I'm inclined to open a buy signal at the beginning of the week.
Plan for Monday, 07/08/2023: I will closely observe how the price reacts. I believe the price will dip to test the support level at 1.26827. Depending on the signal from the candle, I will consider opening a buy signal at 1.26958, with a stop loss placed near the lower support level at 1.26446 and a risk-reward ratio of 2
Based on the upcoming news, GBP is not expected to be strongly impacted until Friday. Therefore, from Monday to Friday, I anticipate an uptrend for GBP USD. Looking at the daily chart, GBP USD is within a channel, and this week, the price is likely to rise to the upper channel until Friday before bouncing back and moving downward. As a result, I'm inclined to open a buy signal at the beginning of the week.
Plan for Monday, 07/08/2023: I will closely observe how the price reacts. I believe the price will dip to test the support level at 1.26827. Depending on the signal from the candle, I will consider opening a buy signal at 1.26958, with a stop loss placed near the lower support level at 1.26446 and a risk-reward ratio of 2
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