Here is an update on GBP/USD
RECAP: (Previous Analysis)
In our previous analysis GBP/USD was trading at 1.38300
We were bullish on the pair after the formation of a bullish harmonic pattern in our previous analysis
The pair continued to fall to 1.38 before being bullish
As the pair began its bull run it triggered our Buy Stop & hit our TP from our previous analysis
enabling us to bank 400 pips from our Buy Stop orders.
The pair then fell to support @ 1.38500 before going up again thanks to the FOMC which we also capitalized on.
WHAT TO EXPECT:
Currently @ 1.39700
With a key event approaching the GBP/USD might either fall back to 1.38 or break above 1.40
But for now, like the EUR/USD we expect the pair to retrace back to resistance @ 1.39500 before continuing its uptrend
If the pair falls below 1.39500 it might trade back in the 1.38 range
GBP is still bullish in the long term.
OUR POSITIONS:
Buy Stop @: 1.40100
Buy Stop TP @: 1.40300
Sell Stop @: 1.39100
Sell Stop TP @: 1.38900
link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP: (Previous Analysis)
In our previous analysis GBP/USD was trading at 1.38300
We were bullish on the pair after the formation of a bullish harmonic pattern in our previous analysis
The pair continued to fall to 1.38 before being bullish
As the pair began its bull run it triggered our Buy Stop & hit our TP from our previous analysis
enabling us to bank 400 pips from our Buy Stop orders.
The pair then fell to support @ 1.38500 before going up again thanks to the FOMC which we also capitalized on.
WHAT TO EXPECT:
Currently @ 1.39700
With a key event approaching the GBP/USD might either fall back to 1.38 or break above 1.40
But for now, like the EUR/USD we expect the pair to retrace back to resistance @ 1.39500 before continuing its uptrend
If the pair falls below 1.39500 it might trade back in the 1.38 range
GBP is still bullish in the long term.
OUR POSITIONS:
Buy Stop @: 1.40100
Buy Stop TP @: 1.40300
Sell Stop @: 1.39100
Sell Stop TP @: 1.38900
link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
