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Guforecast

GU update !!Good day Traders !! On this multi-timeframe analysis we will make a full breakdown of this pair. Monthly : We have an overextended "W" Formation and we retested the neckline and aggressively rejected it. Weekly : We do have a rising Wedge and we just broke above the upper trendline and retested it and we are ready to continue to the upside. Daily : We have a retracement that was rejected by the last Fib level and we expect the price to rise again for a potential long opportunity. COT : Institution have been longing GBP massively since we went from 9600 Net positions to over 30000 Net positions during the last Month and previous reports. We also looking at a strong USD since we have a bullish DXY and institutions have been adding long on the $ index during the previous weeks. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Trade safe !!!
Long
by TheDayzen
GBPUSD TRADINGPLAN, MULTIFRAME ANALYSIS.Take a look at daily chart, after fail break out the resistance 1.23 GU has downed but still slow, in the last my GU post, we have a short deal in 1.225 and still hold with the target 1.20. H4 timeframe, i'm expecting it will retest H4's resistance at 1.22 and going down but that's not good idea, maybe it will be retest again resistance 1.23. If it breaks out the resistance 1.23 we will have another analysis but instead short buy long with target 1.248 and 1.264. Sell limit: 1.23 Stoploss: 1.236 Takeprofit: 1.20 If we have my last deal just hold it. Price action and trendline . Thanks for watching and dont forget to give me some comment and your opinion.
Short
by CuongTran1996