GBPUSD
GBPUSD Long bias.
Status: Waiting for confirmation
What I see?
-PPI MoM got a bullish response, but the resistance level (1.20002 - 1.20198) rejects pretty hard. I aspect the market would go down to previous resistance level (1.18526 - 1.18795) as we respect the bears first to go bullish . But if we don't respect the bears, I aspect that there would a be a liquidity pool starting soon. So I'm still bullish , but we should see how the market goes.
What I would do?
- Funny thing is that USDCHF is on a major support level (0.93706 - 0.93838) so logically in the short term, I would aspect that USDCHF could go bullish . As by GBPUSD , I gonna seek for a confirmation to go long.
Key point:
- Seek for confirmation before executing long.
Happy Trading! Good luck!