GBP/USD Forecast: Short
Here is what to expect:
RECAP:
In our previous analysis GBP/USD was trading at 1.39100
We expected a reversal but the rejected our expectation and continued its bullish momentum.
GBP/USD has reached new year highs of 1.40500.
Our Buy Stop was triggered at 1.39300 and closed at 1.40, banking 1400 pips on the pair
despite not meeting our expected reversal from our previous analysis.
WHAT TO EXPECT:
Long term GBP/USD is Bullish
But short term we expect the pair to test 50% retracement Fib at 1.39500
The pair has approached the edge of its ascending channel so we expect a retracement despite the pair being bullish
No bearish harmonic patterns have been formed yet on the pair.
DXY bears seem to be limited at 90.2
OUR POSITIONS:
Currently @: 1.40260
Sell Stop @: 1.40
Sell Stop TP 1 @: 1.39800
Sell Stop TP 2 @: 1.39600
No Buy Stop orders have been placed
Link to our 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 at 1.39100
We expected a reversal but the rejected our expectation and continued its bullish momentum.
GBP/USD has reached new year highs of 1.40500.
Our Buy Stop was triggered at 1.39300 and closed at 1.40, banking 1400 pips on the pair
despite not meeting our expected reversal from our previous analysis.
WHAT TO EXPECT:
Long term GBP/USD is Bullish
But short term we expect the pair to test 50% retracement Fib at 1.39500
The pair has approached the edge of its ascending channel so we expect a retracement despite the pair being bullish
No bearish harmonic patterns have been formed yet on the pair.
DXY bears seem to be limited at 90.2
OUR POSITIONS:
Currently @: 1.40260
Sell Stop @: 1.40
Sell Stop TP 1 @: 1.39800
Sell Stop TP 2 @: 1.39600
No Buy Stop orders have been placed
Link to our 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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