GBP/USD: IDEA
Here is an analysis on GBP/USD
Currently @ 1.38900
In our previous analysis everything looked bullish on the pair
except for the formation of a bearish harmonic pattern on the 4H chart suggesting a retracement or Reversal
GBP & the Dollar have been outperformed by the EUR these past few weeks and we expect the Pound to be
bearish long term.
If the pair manages to break above 1.39 then it might challenge 1.40
Seeing that more long positions have been added to the GBP according to the COT
this attempt might be feasible, but the Bearish harmonic suggests otherwise.
It will be wise to place buys above 1.39200 and sell entries below 1.38600
link to previous analysis below
Currently @ 1.38900
In our previous analysis everything looked bullish on the pair
except for the formation of a bearish harmonic pattern on the 4H chart suggesting a retracement or Reversal
GBP & the Dollar have been outperformed by the EUR these past few weeks and we expect the Pound to be
bearish long term.
If the pair manages to break above 1.39 then it might challenge 1.40
Seeing that more long positions have been added to the GBP according to the COT
this attempt might be feasible, but the Bearish harmonic suggests otherwise.
It will be wise to place buys above 1.39200 and sell entries below 1.38600
link to previous analysis below
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