INDICATORS
1. Inverted Hammer
2. Bullish engulfing - Confirms reversal to the upside
4. Prices bounced off daily trend line (Support) - Bulls are still in control
CHART PATTERNS
A) 1 HR Chart Displays an ascending triangle inside of
a bullish pennant-like pattern.
OUTLOOK:
After closing higher yesterday engulfing the previous days close, GBPUSD looks set to push higher with a short term target of the 1.58900 area (key daily & weekly resistance levels) now insight. Expect prices to stagnate between 1.57300 & 1.57200 before a breakout occurs to the upside around target one.
NOTE: If GBP/USD closes the day above key weekly Fib 61.8% Fib level, expect the bullish trend intact.
TARGETS LEVELS
T2 - 1.58935
T1 - 1.58125
STOP LEVELS
S1 - 1.56733
1. Inverted Hammer
2. Bullish engulfing - Confirms reversal to the upside
4. Prices bounced off daily trend line (Support) - Bulls are still in control
CHART PATTERNS
A) 1 HR Chart Displays an ascending triangle inside of
a bullish pennant-like pattern.
OUTLOOK:
After closing higher yesterday engulfing the previous days close, GBPUSD looks set to push higher with a short term target of the 1.58900 area (key daily & weekly resistance levels) now insight. Expect prices to stagnate between 1.57300 & 1.57200 before a breakout occurs to the upside around target one.
NOTE: If GBP/USD closes the day above key weekly Fib 61.8% Fib level, expect the bullish trend intact.
TARGETS LEVELS
T2 - 1.58935
T1 - 1.58125
STOP LEVELS
S1 - 1.56733
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.
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.