With three consecutive weeks of bullish price action, we have seen the impact it's had on the Dollar index, sliding to new weekly lows. If this continues, we can expect the continuation of GBPUSD to run up into the 1.27000 region.
We have seen the successful delivery of bullish price action last week. When will this run end?
We have seen the successful delivery of bullish price action last week. When will this run end?
Trade closed: target reached
Successful delivery of 1.27000 has been booked!4 weeks of straight bullish price action!
I do believe there is still more movement to come; whether it’s this week or next, GBPUSD is still trading in a discount in accordance to the most recent highs and lows. Equalibrium is @ 1.27670. There is still a chance for EQ delivery this week but I am not putting no weight behind it.
Waiting 4 weeks for this day to come and what we witnessed this week was support from the +OB @ 1.26179 on Monday and Tuesday before the continuation to the upside, reaching the lower portion of the weekly FVG // SIBI.
Will be observing how GBPUSD and DOLLAR INDEX trades throughout the week but not placing a lot of weight on both pairs.
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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.