GBP - 🐂BULLISH but for how long? 🐻Hey, I'm back!
It's been a while took some time off the screens, I am happy and proud of my longer term positioning within GBP taking hits on profit targets - longer term target before 1.43 areas, and I did state yr ahead outlook I am thinking 1.47-1.50! Nice monthly area. In my year ahead outlook for 2021- If you're interested in the video , Privately message.
Over night, we had a GBP head higher towards 1.42 areas - Now we did get positive news starting this week easing lockdown, but the key is we COULD be out of lock down before June 21st! Incredible right?! if that happens! Less craziness.. Now if you're active follower of mine you would know - I am bullish GBP and I've been selling EURGBP combined. Well, I've given you my longer term target one of them...However, be careful don't go buying all in at these levels I'd like actually GBP to have pull back to some key areas.
Fundamentals:
- GBP Monetary Policy Report Hearings - Chief Economist Haldane Speaks & Gov Bailey.
- Fed Chair Powell Testifies (Yesterday, we had Powell testifies- Dovish the usual 'far away from employment and long term inflation goals' but we've got this reflation trade situation - Yields high...! )
- RBNZ Gov Orr Speaks (RBNZ - Yesterday, Monetary Policy Statement. Take a look at AUDNZD, It was a great short opportunity - Prolonged Monetary Stimulus)
Technical: - More of a complicated chart...
- Pattern: Within Channel or wedge formation (Monthly - double bottom)
- Support: 1.41405, 1.41210, 1.40760, 1.40430
- Resistance: 1.42255, 1.42606, 1.43120
Be aware of the over night spike, if that gets taken out, further bullish momentum to continue. Overall we are still in bullish territory until we are out of the channel i've drawn , then I'd target 50 EMA areas, which add confluence to Fib area.
(FOLLOW YOUR OWN TRADE PLAN FOR FURTHER CONFLUENCE)
Bonus: BTC -It was at high areas of 58k areas, to 48/49k. A Very volatile asset, I did state it would head lower when it was at highs. What goes up, comes down eventually! I actually think we could perhaps head lower and if it doesn't I rather be late to the party - It isn't really an asset I'd invest a high % of my portfolio in due to the high volatile movements. I am not holding BTC Positioning at this current moment of time. I am out until I am ready to get long again.
Key tip: “Patience is bitter, but its fruit is sweet.”― Aristotle
Have a good day,
Trade Journal
(Just a trade idea, not a recommendation)
