GBPUSD
We had a pretty eventfull week last week , with the U.S election around the corner & continuation of the brexit talks we as traders have alot to look forward to in the upcoming weeks. Last week GBP rose +290 pips against the greenback , if we continue to get good news around brexit & the U.S stimulus package we could definitely see another bull run toward the top of the channel which would be another +250 to +300 pips. At the end of the trading week GBP retraced 50% of last weeks agains back to my optimal trading zone around 1.30090 ( red zone) , which is a good place to reload your positions for the next possible bull run. My advice would be to wait until market tests that area at least 2-3 times possible forming a double or triple bottom before entering or just wait until market breaks out the engulfing bull flag seen on the 1HR chart , which would be a good indication that the market is ready for the continuation of the bullish trend.
LET ME KNOW YOUR THOUGHTS IN THE COMMENT SECTION....
Komen:
GBP held nicely over the support area around 1,29946 , a daily close above the weekly highs around 1.31800 wound confirm the trend continuation...
Komen:
final lap!! lets gooo
