We have seen a wonderful rally in GBP today which has broken many s/r levels & trendlines in various pairs and moved above them , now question is will this rally will be able to hold on to its gain ?
Technically GBPUSD looks to close above descending trendline and may move above 50 & 200 DMA too.
We will have to wait and watch for todays Daily close ,and tomorrows trading session to get confirmation of Trendline which was acting as Resistance to offer support.
If price closes between trendline and MA's then we may see some consolidation before a Move up , anyways we are not looking to Sell GBP now atleast until short term ascending trendline ( Blue) manages to support price towards up ,
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Best Chart Setups , Great Entry Points & Guidance to get most pips out of good trades : All that without stress & Emotion Free On Vip service :
We don't use fix stop Loss or Take profit , instead use our in house perfected strategy with Trendlines & Moving Averages in different time frame to stay longer in profitable trade & exit early loss making one.
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PLease like , comment to let us know what do you think about this idea & follow us for more updates..
Technically GBPUSD looks to close above descending trendline and may move above 50 & 200 DMA too.
We will have to wait and watch for todays Daily close ,and tomorrows trading session to get confirmation of Trendline which was acting as Resistance to offer support.
If price closes between trendline and MA's then we may see some consolidation before a Move up , anyways we are not looking to Sell GBP now atleast until short term ascending trendline ( Blue) manages to support price towards up ,
***************************
Best Chart Setups , Great Entry Points & Guidance to get most pips out of good trades : All that without stress & Emotion Free On Vip service :
We don't use fix stop Loss or Take profit , instead use our in house perfected strategy with Trendlines & Moving Averages in different time frame to stay longer in profitable trade & exit early loss making one.
**************************
PLease like , comment to let us know what do you think about this idea & follow us for more updates..