Analysis done on the weekly/daily timeframe.
So, first things first: GU is on long-term uptrend, as are the other GBP pairs. Our economy is recovering.
I've drawn a trendline from the weekly TF and price could very well come down to it. There's a chance price will go down to the lower S&D zone if it were to break and hold below 1.38000. However, there are fundamentals coming out this week which are predicted to be positive for GBP so we very well might see a move to the upside.
I see price moving down before this happens but i'll be positioning myself for a long.
Updates to follow, follow me to see them.
So, first things first: GU is on long-term uptrend, as are the other GBP pairs. Our economy is recovering.
I've drawn a trendline from the weekly TF and price could very well come down to it. There's a chance price will go down to the lower S&D zone if it were to break and hold below 1.38000. However, there are fundamentals coming out this week which are predicted to be positive for GBP so we very well might see a move to the upside.
I see price moving down before this happens but i'll be positioning myself for a long.
Updates to follow, follow me to see them.
Note
Price has rejected nicely off of 1.38000 and is currently heading towards the middle S&D zone. It's a sell from there if price reaches there before the GBP fundamentals on ThursdayDisclaimer
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.