Week 5 2020 - GBPUSD
Hi traders,
For this particular asset, we saw price break to the downside from the consolidation pattern and bounce forming a small bullish trend off of the double bottoms. The bullish stochastic is a sign there is some momentum to the upside.
The double bottoms have thrown back to the confirmation level and any sign of bouncing is a signal to buy this asset. A break above 131700 will be confirmation of bullishness. We will need some strong fundamentals for the asset to breakout at those levels.
For the bears, a break of the 50MA and 130150 level will be the sign to look for shorts.
All the best,
Aardall
For this particular asset, we saw price break to the downside from the consolidation pattern and bounce forming a small bullish trend off of the double bottoms. The bullish stochastic is a sign there is some momentum to the upside.
The double bottoms have thrown back to the confirmation level and any sign of bouncing is a signal to buy this asset. A break above 131700 will be confirmation of bullishness. We will need some strong fundamentals for the asset to breakout at those levels.
For the bears, a break of the 50MA and 130150 level will be the sign to look for shorts.
All the best,
Aardall
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.