GBPUSD | BULLS READY TO CHARGE
GBPUSD is currently standing at the top of short term bearish parallel channel. The price is expected to move in the upward direction as daily and weekly timeframe suggesting strong bullish momentum.
We are looking to buy on dip this week as risk rewards ratios become very good.
A break of 1.19260 (support level) will bring more pressure on bulls. So risk should be well defined before taking any position.
It's important to note that Forex trading involves significant risks and should only be undertaken by experienced traders who have a thorough understanding of the market and its dynamics. It's always a good idea to do your own research and consult with a professional before making any trading decisions.
GBPUSD is currently standing at the top of short term bearish parallel channel. The price is expected to move in the upward direction as daily and weekly timeframe suggesting strong bullish momentum.
We are looking to buy on dip this week as risk rewards ratios become very good.
A break of 1.19260 (support level) will bring more pressure on bulls. So risk should be well defined before taking any position.
It's important to note that Forex trading involves significant risks and should only be undertaken by experienced traders who have a thorough understanding of the market and its dynamics. It's always a good idea to do your own research and consult with a professional before making any trading decisions.
