GBP/USD-Daily analysis
Hello everyone!
-On a daily chart, we can see that the price closed with a strong bullish candle with a small higher wick.
-On a lower time frame such as a 4-hour time frame, we can see that the price broke support line of a triangle pattern and then the price rejected with the next bearish candle that closed a little bit below the support line of the triangle pattern.
-We can see that the price was moving strongly in bullish direction on a 4-hour chart and last 4 hours of Friday the price rejected support line and then closed a little bit below that line in form of a bearish candle.
-On a daily base, GBP is very strong and USD is very week, on weekly base GBP is a little bit weaker than USD.
-If GBP remains stronger we can expect further bullish movement and IF USD gains some power and GBP loses its power then we can expect bearish movement.
-I recommend to wait for fundamental updates and news so then we will see how Monday will start.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a daily chart, we can see that the price closed with a strong bullish candle with a small higher wick.
-On a lower time frame such as a 4-hour time frame, we can see that the price broke support line of a triangle pattern and then the price rejected with the next bearish candle that closed a little bit below the support line of the triangle pattern.
-We can see that the price was moving strongly in bullish direction on a 4-hour chart and last 4 hours of Friday the price rejected support line and then closed a little bit below that line in form of a bearish candle.
-On a daily base, GBP is very strong and USD is very week, on weekly base GBP is a little bit weaker than USD.
-If GBP remains stronger we can expect further bullish movement and IF USD gains some power and GBP loses its power then we can expect bearish movement.
-I recommend to wait for fundamental updates and news so then we will see how Monday will start.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
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.