GBP/USD Forecast: Short then long
Here is what to expect on GBP/USD
RECAP:
In our previous analysis GBP/USD was trading @ 1.38300
We were bullish on the pair and had targeted 1.40
The pair has done this & triggered our Buy Stop @ 1.38800
& also hit our TP @ 1.40
Banking us 2400 pips on the pair from the buy stop order we had form our previous analysis
The pair has then fallen to 1.39 due to US10Y & DXY
WHAT TO EXPECT:
Weak data has come in today for GBP which also influenced its downtrend
We expect a reversal on the pair regardless of the data.
GBP is still bullish in the long run
However if the pair breaks below the trendline we would expect it to fall back to
support @ 1.38600
OUR POSITIONS:
Currently @: 1.39200
Buy Stop @: 1.139600
Buy Stop TP @: 1.39800
Sell Stop @: 1.38900
Sell Stop TP @: 1.38700
link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP:
In our previous analysis GBP/USD was trading @ 1.38300
We were bullish on the pair and had targeted 1.40
The pair has done this & triggered our Buy Stop @ 1.38800
& also hit our TP @ 1.40
Banking us 2400 pips on the pair from the buy stop order we had form our previous analysis
The pair has then fallen to 1.39 due to US10Y & DXY
WHAT TO EXPECT:
Weak data has come in today for GBP which also influenced its downtrend
We expect a reversal on the pair regardless of the data.
GBP is still bullish in the long run
However if the pair breaks below the trendline we would expect it to fall back to
support @ 1.38600
OUR POSITIONS:
Currently @: 1.39200
Buy Stop @: 1.139600
Buy Stop TP @: 1.39800
Sell Stop @: 1.38900
Sell Stop TP @: 1.38700
link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
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