GBPUSD stayed very bullish for the 2nd week since the BOE started raising rates.
There's no doubt that the pound can continue to climb higher but will face strong resistance as it approaches a major supply level at 1.3560.
The supply level also sits well at the top of a 6-month falling channel, together with the golden ratio.
This week, we will wait for a pullback towards 1.3500 for an intraday buy and look out for strong resistance from 1.3560 onwards.
P.S. Give a thumbs up if you like our idea:)
Do follow us as we will be providing daily trading ideas as a continuation to our weekly forecast. Cheers!
There's no doubt that the pound can continue to climb higher but will face strong resistance as it approaches a major supply level at 1.3560.
The supply level also sits well at the top of a 6-month falling channel, together with the golden ratio.
This week, we will wait for a pullback towards 1.3500 for an intraday buy and look out for strong resistance from 1.3560 onwards.
P.S. Give a thumbs up if you like our idea:)
Do follow us as we will be providing daily trading ideas as a continuation to our weekly forecast. Cheers!
