Why I Think GBPUSD Will Buy This Week...Technical Analysis
Hey Rich Friends,
I hope all is well! This is only a technical analysis of GBPUSD, so make sure you cross-reference your charts and check the news. I think this pair will continue to buy and here is what I am looking at:
- The 3 EMA (blue/smaller) has crossed over the 10 EMA (purple/larger). This is a bullish confirmation for me.
- The stochastic is facing up, the fast line (blue) is above the slow line (orange) and both lines are above. These are all bullish confirmations for me
- The candles have broken and closed above the top trend line. This is a bullish confirmation for me.
Additional confirmations you can wait for:
- Price to close above 1.28900
My TPs will be set at previous highs and my SL will be at a previous low.
Happy Trading and good luck if you decide to take this trade!
Peace and Profits,
Cha
I hope all is well! This is only a technical analysis of GBPUSD, so make sure you cross-reference your charts and check the news. I think this pair will continue to buy and here is what I am looking at:
- The 3 EMA (blue/smaller) has crossed over the 10 EMA (purple/larger). This is a bullish confirmation for me.
- The stochastic is facing up, the fast line (blue) is above the slow line (orange) and both lines are above. These are all bullish confirmations for me
- The candles have broken and closed above the top trend line. This is a bullish confirmation for me.
Additional confirmations you can wait for:
- Price to close above 1.28900
My TPs will be set at previous highs and my SL will be at a previous low.
Happy Trading and good luck if you decide to take this trade!
Peace and Profits,
Cha
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