GBPUSD
Obviously a downward trend
Price is currently below the 50EMA after minor breakout 3 times though.
Price broke the trendline and retest and trying to do the same thing for the second time around now.
Major rejection at 1.32000 may push back the price towards 1.32250 or 1.32500 forming a range market, then 50EMA will fall in between the price confirming the range market.
Short BUY can occur right after price get to 1.32000.
Note: USD news coming up by 8pm
TP 1 - 25PIPS
TP 2- 50PIPS
TP 3- 100PIPS
Obviously a downward trend
Price is currently below the 50EMA after minor breakout 3 times though.
Price broke the trendline and retest and trying to do the same thing for the second time around now.
Major rejection at 1.32000 may push back the price towards 1.32250 or 1.32500 forming a range market, then 50EMA will fall in between the price confirming the range market.
Short BUY can occur right after price get to 1.32000.
Note: USD news coming up by 8pm
TP 1 - 25PIPS
TP 2- 50PIPS
TP 3- 100PIPS
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.