My BIAS for GBP/USD for the upcoming week is BUY.
My reasons behind this are
1. Price has just broken above our Daily Resistance.
2.Price has retested our Daily Resistance and bounced straight back up sitting currently just above the previous high made on the 4HR TF.
What I will be looking for before entering this trade.
- A retest of previous highs at 1.22500
- A strong Bullish Rejection Candlestick
- Price to not fall below recent lows at 1.22000.
I will be looking to enter my trade around 1.22500
Taking profits at 1.23800 (130 pips)
Stops set at 1.22200(30 pips)
Please Like & Follow for future analysis and updates.
My reasons behind this are
1. Price has just broken above our Daily Resistance.
2.Price has retested our Daily Resistance and bounced straight back up sitting currently just above the previous high made on the 4HR TF.
What I will be looking for before entering this trade.
- A retest of previous highs at 1.22500
- A strong Bullish Rejection Candlestick
- Price to not fall below recent lows at 1.22000.
I will be looking to enter my trade around 1.22500
Taking profits at 1.23800 (130 pips)
Stops set at 1.22200(30 pips)
Please Like & Follow for future analysis and updates.