Long
GBPUSD price will go up
If you have missed the long last Friday, try not to enter long as I feel it will retest 1.361 - 1.362 area one more time before heading up.
GBPUSD tried hard to break 1.36 area but all ended up with aggressive bounce back up within a few hours time range.
I expect a history replay, that GBPUSD hits price around 1.372 - 1.374 and then retest 1.366 before moving higher; or otherwise retest 1.361-1.362 to form another double bottom and move back up more agressively.
I will enter a tight SL long entry if there's a chance; otherwise I'll wait it retest 1.362 and long, or retest 1.373 and long further up.
Overall speaking, GBPUSD is still in down-trend since the trend reversal, and I don't expect another major trend change happenning unless it reaches 1.385 again.
Entry: 1.36617 with SL at 1.36522; if fails, re-enter at 1.362 with SL at 1.36
SL: as mentioned above
Expected Pips: 20 - 50 pips from 1.3661; or 20-100 if 1.362 gets retested
Expected Timeline: 1 day if 1.3662 is secured; otherwise SL hit and re-enter at 1.362 if reaches expecting 2-3 days aggressive bounce.
GBPUSD tried hard to break 1.36 area but all ended up with aggressive bounce back up within a few hours time range.
I expect a history replay, that GBPUSD hits price around 1.372 - 1.374 and then retest 1.366 before moving higher; or otherwise retest 1.361-1.362 to form another double bottom and move back up more agressively.
I will enter a tight SL long entry if there's a chance; otherwise I'll wait it retest 1.362 and long, or retest 1.373 and long further up.
Overall speaking, GBPUSD is still in down-trend since the trend reversal, and I don't expect another major trend change happenning unless it reaches 1.385 again.
Entry: 1.36617 with SL at 1.36522; if fails, re-enter at 1.362 with SL at 1.36
SL: as mentioned above
Expected Pips: 20 - 50 pips from 1.3661; or 20-100 if 1.362 gets retested
Expected Timeline: 1 day if 1.3662 is secured; otherwise SL hit and re-enter at 1.362 if reaches expecting 2-3 days aggressive bounce.
Note
trade activated. :) GL.
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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.