GBPUSD
Given that the fundamental analysis for GBPUSD is pretty negative therefore my take for this ccy pair is that it will continue to decrease in px.
the support of 1.25209 seems to be holding - now is to check where will the next high be;
I'm hoping (guessing) that it will rise till 1.25510 tops just outside the uptrend support line
If so, this will indicate a confirmed breakout of the uptrend and will look for it to retrace back down.
This is also the time when I will short this ccy pair.
If it rises till > 1.25510, the current set up is deemed as failed. Will then draft my next analysis.
Do drop me a comment to share with me your analysis!
the support of 1.25209 seems to be holding - now is to check where will the next high be;
I'm hoping (guessing) that it will rise till 1.25510 tops just outside the uptrend support line
If so, this will indicate a confirmed breakout of the uptrend and will look for it to retrace back down.
This is also the time when I will short this ccy pair.
If it rises till > 1.25510, the current set up is deemed as failed. Will then draft my next analysis.
Do drop me a comment to share with me your analysis!
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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.