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Kashmarkets

GBPUSD potential Bat PatternHello Traders, We have a potential BAT pattern If price can reach 1.4094. Today CPI Inflation figures came out less than expected at 0.3% which has helped pushed price down close to our level of entry. This area has confluence of support and trend line support. There seems to signs of indecision in this area too. If we can continue to put in higher lows this pair can be considered to be in an uptrend. Target 1: 1.4354 Target 2: 1.4510 Beware of holding this trade over the coming weeks due to the EU referendum. Please follow, like, share and comment
Long
by KashMarkets
Potential long opportunity GBPUSDHello Traders, Price came very close but if we can actually reach 1.4094 then we have a Bat pattern which completes at the 88.6% fibonacci retracement level. This pattern completes in an zone of support. Furthermore, this pattern serves as a continuation of the recent uptrend. Target 1: 1.4354 Target 2: 1.4510 Note that that we have CPI (inflation) figures coming out in the UK. We have a forecast of 0.4%. Typically if the actual figure is greater than the forecast we could see an appreciation in GBP. Since it may lead to the Bank of England raising interest rates. Feel free to follow, like, comment and share
Long
by DigitalKM
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