British Pound / U.S. DollarUpdated GBPUSD Trade Idea
In yesterday's analysis, I expected GU to have minor pullbacks for further bullish continuation, which was exactly what the market performed. In today's trading session, I will remain neutral bias despite the bullish momentum on GU due to the current over-extended condition (RSI, 75). I will be very cautious on the buys at the moment and pay attention to 1.3840 resistance level. I am expecting some sort of short-term rollover before further continuation the upside. But notice that price is respecting the 18 & 50ema ema very well, any pullback towards 18ema/ 50ema can be considered a good buy with proper trigger (candlestick pattern).
Do not forget the overall trend remains bullish on the higher timeframe.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Do not forget the overall trend remains bullish on the higher timeframe.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Note
Previous analysis
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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.