GBP/USD Analysis
Updated
I think this week on GBP/USD there is one of two scenarios
First one :
there are important news on each of them
on Tuesday GBP >> unemployment changes rate < Forecasted positive >
on Tuesday USD >> Retail Sales < Forecasted positive >
on Thursday GBP >> Official Bank Rate
on Friday GBP >> Retail Sales
IF We combined that with the technical Analysis we will found that it's maybe going in a horizontal channel between 1.25441 & 1.23554
and in this case, if the price break the down line I think it will go to 1.22359
the second one :
if the price goes up to around 1.27705 it will make the right shoulder at head and shoulders pattern and in this case, it will go up for sure so we can take a position from 1.28020 to around 1.30717 and that will be our take profit level
I think we should be patient until one of these scenarios happen
Share with me your thoughts
& have a profitable week for all of you guys!
First one :
there are important news on each of them
on Tuesday GBP >> unemployment changes rate < Forecasted positive >
on Tuesday USD >> Retail Sales < Forecasted positive >
on Thursday GBP >> Official Bank Rate
on Friday GBP >> Retail Sales
IF We combined that with the technical Analysis we will found that it's maybe going in a horizontal channel between 1.25441 & 1.23554
and in this case, if the price break the down line I think it will go to 1.22359
the second one :
if the price goes up to around 1.27705 it will make the right shoulder at head and shoulders pattern and in this case, it will go up for sure so we can take a position from 1.28020 to around 1.30717 and that will be our take profit level
I think we should be patient until one of these scenarios happen
Share with me your thoughts
& have a profitable week for all of you guys!
Note
be careful guys Dollar falls broadly After Fed announced the corporate bond purchaseAnd Also Jerome Powell's speech Said That the Full recovery unlikely until public is confident coronavirus has been contained
So be careful guys till we skip this wave
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