Trade setup: GBP/USD analysis
Updated
Sterling is overly cheap right now, price is clearly underpriced, previous monthly candle closed as a pin bar rejecting the 1.26000 regions. a closer look on the 4HR time frame we could emulate the previous swing and reverse higher to the 1.27000 area, the obvious catalyst would be a slowdown in US economy with fundamentally driven negatives. GBP data out this week should be expected to show more positive consensus.
Trade active
re-entered at 1.23880 area of liquidity, first target 1.25000
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.