$GBPUSD - Bullish flag
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🔔 RSI and MACD indicators on a 4-Hour GBPUSD are signalling an upcoming bullish reversal. The pair has also formed a double bottom pattern when GBPUSD retraced strongly after a retest of $1.34200 level.
🔔 Based on the price action, and taking into account a conceivable volatility this week during the release of the Economic data from the US, GBPUSD may also retest the $1.34200 and $1.33200 below that.
🔔 The retest of $1.33200 will complete a 5-wave move of the bullish flag and we can expect an escape from the bearish downtrend channel. However the indication of a high purchasing power on November 5 after a retest of $1.34200, RSI and MACD indicators signal that the uptrend reversal of the pair is already in progress.
✊🏻 Good luck with your trades! ✊🏻
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🔔 RSI and MACD indicators on a 4-Hour GBPUSD are signalling an upcoming bullish reversal. The pair has also formed a double bottom pattern when GBPUSD retraced strongly after a retest of $1.34200 level.
🔔 Based on the price action, and taking into account a conceivable volatility this week during the release of the Economic data from the US, GBPUSD may also retest the $1.34200 and $1.33200 below that.
🔔 The retest of $1.33200 will complete a 5-wave move of the bullish flag and we can expect an escape from the bearish downtrend channel. However the indication of a high purchasing power on November 5 after a retest of $1.34200, RSI and MACD indicators signal that the uptrend reversal of the pair is already in progress.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
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