GPBUSD - BUY ?
Good evening/morning guys,
Currently got my eye on the GBPUSD pair, it has made an impressive move against the 100MA BAR on the daily time frame and is currently pulling back!
I'm looking for price to pull back to my 50% retracement which is in line with support and the 200MA.
Clues of a bullish market:
1. 100MA sloping up
2. 200MA flattening and possible slope up!
3. Price is above 100MA and 200MA on daily
4. Series of higher highs and higher lows
TP 1 - 100MA
TP 2 - Recent highs if it breaks the 100 MA... if not GET OUT!
Fundamentals:
- Some GBP data released this week which can cause volatility.
- Risk off sentiment? USD yield curve becoming inverted (bearish) due to coronavirus scare?
What do you guys think?
-L
Currently got my eye on the GBPUSD pair, it has made an impressive move against the 100MA BAR on the daily time frame and is currently pulling back!
I'm looking for price to pull back to my 50% retracement which is in line with support and the 200MA.
Clues of a bullish market:
1. 100MA sloping up
2. 200MA flattening and possible slope up!
3. Price is above 100MA and 200MA on daily
4. Series of higher highs and higher lows
TP 1 - 100MA
TP 2 - Recent highs if it breaks the 100 MA... if not GET OUT!
Fundamentals:
- Some GBP data released this week which can cause volatility.
- Risk off sentiment? USD yield curve becoming inverted (bearish) due to coronavirus scare?
What do you guys think?
-L
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