GBPUSD 1D Long prediction for week of (11/5-11/10)
GBPUSD has been in an uptrend for the majority of the year. Recently with EU breaking the neckline of the head and shoulders the majority of sellers are looking to take shorts down to the 1.13000 level. Also the dollar recently stalled at a resistance and fell to a support where it then bounced and broke through that previous resistance. Overall the DXY chart indicates a strengthening of the dollar hence why I will wait to enter into my Long on GU until the inverted hammer candlestick analysis is confirmed. Overall if the dollar continues to strengthen Shorts on EU will be very nice for a low risk to reward, however GU should breakdown out of the long uptrend. please comment any thoughts
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