The chart which I am showing is for GBPUSD using the hourly time frame. Based on these trend lines, it is likely that GBPUSD will be moving upwards. 8 red candles were seen before the last 3 hours of trade and then 2 green candles to show a sign of reversal but were not followed through by the last candle which was red. My expectation when the market opens on Sunday at 22.00 hours is that it may drop further or it may go up again. The probability of GBPUSD continuing on its upward movement is high from Monday onwards and will need to know the results of economical news that are coming out on Monday and Tuesday. This is my personal opinion strictly based on the technical analysis.
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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.