GBP/USD - Long
Will be monitoring Price Action in the early part of the week for a potential Long trade
Weekly candle close was Bullish and has been for the previous few weeks
Weekly break of trend line as well as also breaking above a key level of resistance with a major bullish candle which could represent a long-term shift in price momentum
Daily chart shows a recent MA crossover to the upside
Daily also reaffirms the break of trend line and key level as well as showing a retest - resistance come support?
Daily Fib in action with retracement to support at 50% and has since pushed on to the 0% level
Next key level on Daily is between the Fib 0& and -27%
Long-term Daily uptrend line has also been respected
4 Hour CTL break and retest can be seen in action
Fibonacci has retraced to the 38% level of support before re-commencing the bullish move
Target 1 is 1.6000 which is in between the -27% and -61% of the 4 Hour Fib
Major Fundamental News of the week ahead:
- USD - Existing Home Sales - Mon 15:00GMT
- USD - Core Durable Goods Orders (MoM) - Tue 13:30GMT
- USD - New Home Sales - Tue 15:00GMT
- USD - GDP (QoQ) - Wed 13:30GMT
- GBP - BoE Gov Carney Speaks - Fri 16:15GMT
Weekly candle close was Bullish and has been for the previous few weeks
Weekly break of trend line as well as also breaking above a key level of resistance with a major bullish candle which could represent a long-term shift in price momentum
Daily chart shows a recent MA crossover to the upside
Daily also reaffirms the break of trend line and key level as well as showing a retest - resistance come support?
Daily Fib in action with retracement to support at 50% and has since pushed on to the 0% level
Next key level on Daily is between the Fib 0& and -27%
Long-term Daily uptrend line has also been respected
4 Hour CTL break and retest can be seen in action
Fibonacci has retraced to the 38% level of support before re-commencing the bullish move
Target 1 is 1.6000 which is in between the -27% and -61% of the 4 Hour Fib
Major Fundamental News of the week ahead:
- USD - Existing Home Sales - Mon 15:00GMT
- USD - Core Durable Goods Orders (MoM) - Tue 13:30GMT
- USD - New Home Sales - Tue 15:00GMT
- USD - GDP (QoQ) - Wed 13:30GMT
- GBP - BoE Gov Carney Speaks - Fri 16:15GMT
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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.
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.