The GBPUSD is coiling up into a wedge that may be broken by the upcoming CPI release(9:30 GMT Tuesday), or it will more likely be able to hold off until the budget presentation(12:30 GMT Wednesday).
I will be short on this one because:
- Long term heavily negative UK fundamentals
- It will most likely be capped by an approximately one month trend line
- Divergence/downward trend line on the RSI
1st goal gives at least a 3:1 risk/reward ratio. 2nd goal is 5:1.
I will be short on this one because:
- Long term heavily negative UK fundamentals
- It will most likely be capped by an approximately one month trend line
- Divergence/downward trend line on the RSI
1st goal gives at least a 3:1 risk/reward ratio. 2nd goal is 5:1.
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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.