GBP/USD in no man's land. Roadmap for the following week!
Updated
Here is our roadmap for starting another trading week strong. So, after hitting our first profit target on the buy last Thursday, GBP/USD has failed to develop stronger bullish momentum and finished the week in no man's land. We have set the consolidation box for the pair with bottom around 1.28000 and the top around 1.28800 price level where the price should decide about the further direction. For now we have short-term bearish momentum with highs connected to the Bearish trendline and longer term bullish momentum with lows connected to the Bullish Trendline. Any touch or break of these trendlines can give us a nice opportunity to trade so keep an eye on that, and of course wait for the price action confluence before entering the Trade. For now we are favoring shorts on this pair and further development of downside movement but nothing is confirmed at this point. Wish you a happy trading week! #wolfpack
Trade closed: target reached
Floating a nice profit between 30-50 pips depends where you entered, set your brake-evens and remove the risk from your trades before the London opens!
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