GBP/USD Weekly Analysis
"On Monthly:
Like other USD pairs, this one is Bearish too. After a Bearish Engulfing in October, it made a Doji that looks more Bullish than Bearish in the month of November.
It seems it got stock between 1.28600 and 1.24800 which is 380 Pips.
It stopped at 1.27500. I suspect it will go back up to 1.28600 before heading back down to 1.24800 at last.
-- On Weekly:
At this time frame we can see the uptrend towards Monthly trend line (RED) as it bounced back off of Daily trendline (Gray).
It formed Morning Star and going up to 1.28600.
All three EMAs 200, 50 and 20 are squeezed and easy to break one way or another.
It seems very risky either Bullish or Bearish trade at this time frame. --On Daily:
""V"" shape reversal has been formed and it seems it's going back up.
All three EMAs are Bearish. But it may continue Bullish up 1.28600 as it seems it has made a Head & Shoulders to bounce back down.
-- On Hourly:
On the contrary of Daily chart, it has made a multi-bottom formation for Bullish move.
Let's see how the price will perform at 1.27500 Historical resistant.
All three EMA's are Bullish and it's spreading open so far."
Like other USD pairs, this one is Bearish too. After a Bearish Engulfing in October, it made a Doji that looks more Bullish than Bearish in the month of November.
It seems it got stock between 1.28600 and 1.24800 which is 380 Pips.
It stopped at 1.27500. I suspect it will go back up to 1.28600 before heading back down to 1.24800 at last.
-- On Weekly:
At this time frame we can see the uptrend towards Monthly trend line (RED) as it bounced back off of Daily trendline (Gray).
It formed Morning Star and going up to 1.28600.
All three EMAs 200, 50 and 20 are squeezed and easy to break one way or another.
It seems very risky either Bullish or Bearish trade at this time frame. --On Daily:
""V"" shape reversal has been formed and it seems it's going back up.
All three EMAs are Bearish. But it may continue Bullish up 1.28600 as it seems it has made a Head & Shoulders to bounce back down.
-- On Hourly:
On the contrary of Daily chart, it has made a multi-bottom formation for Bullish move.
Let's see how the price will perform at 1.27500 Historical resistant.
All three EMA's are Bullish and it's spreading open so far."
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