GBP/USD Forecast: Long
Here is what to expect on GBP/USD
RECAP: (Previous Analysis)
In our previous analysis GBP/USD was trading at 1.39200
We expected the pair to be bullish on the pair
but did caution that the pair might be bearish due to weak data that came in on Friday
& also if the pair struggles to break the down-trendline.
The pair fell to lows of 1.38600 triggering our Sell Stop @ 1.38900 & hitting our target @ 1.38700
banking us 400 pips on the pair.
WHAT TO EXPECT:
Currently at 1.38300
Pair has broken below support/resistance @ 1.38600
We expect the pair to retrace back to that support @ 1.38600 & try to break above it.
If the pair fails to break above it we might see it fall to last weeks lows of 1.37700
Bullish Harmonic pattern forming on the 1H chart suggests a possible reversal if confirmed
OUR POSITIONS:
Buy Stop @ 1.38700
Buy Stop TP @: 1.38900
Sell Stop @: 1.38
Sell Stop TP @: 1.37800
link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP: (Previous Analysis)
In our previous analysis GBP/USD was trading at 1.39200
We expected the pair to be bullish on the pair
but did caution that the pair might be bearish due to weak data that came in on Friday
& also if the pair struggles to break the down-trendline.
The pair fell to lows of 1.38600 triggering our Sell Stop @ 1.38900 & hitting our target @ 1.38700
banking us 400 pips on the pair.
WHAT TO EXPECT:
Currently at 1.38300
Pair has broken below support/resistance @ 1.38600
We expect the pair to retrace back to that support @ 1.38600 & try to break above it.
If the pair fails to break above it we might see it fall to last weeks lows of 1.37700
Bullish Harmonic pattern forming on the 1H chart suggests a possible reversal if confirmed
OUR POSITIONS:
Buy Stop @ 1.38700
Buy Stop TP @: 1.38900
Sell Stop @: 1.38
Sell Stop TP @: 1.37800
link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
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