GBPUSD SHORT - DAILY ANALYSIS
Updated
GBPUSD Week Ahead Bias Short. W/C 13th September 2021. The pair is in a range on larger timeframes. Last week was an interesting week of testing key trendlines on Daily/4hr charts, breaking them, and then falling back in line showing indecision before the next major move. This week, we will be watching if: Outcome 1 - the weekly trendline breaks to the downside sticks, or Outcome 2 - fills the air space on the ascending triangle before descending further to the Monthly 'magnet' of Support 1.2150. Outcome 1 is the bias, but there may be some leftover steam to the upside leading to Outcome 2. Outcome 3, back to the drawing board and consider buys.
Strong Monthly Resistance
Failed to break for 4 months in Jan & April 2018
Retested February 2021 & May 2021.
Target 1.2150 by July 2022 looking for mainly sells before considering new direction.
+1,500 pips.
Above 1.42 consider longs.
With Targets Towards 1.50
Sensible loot management required in all cases. Always do your own research.
Strong Monthly Resistance
Failed to break for 4 months in Jan & April 2018
Retested February 2021 & May 2021.
Target 1.2150 by July 2022 looking for mainly sells before considering new direction.
+1,500 pips.
Above 1.42 consider longs.
With Targets Towards 1.50
Sensible loot management required in all cases. Always do your own research.
Trade active
Sell
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