#GBPUSD, great gains in Week 17, can it continue in Week 18?
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GBPUSD shifted massively away from where we ended in Week 17. Any traders going long at any point of time would have made a good profit.
With such a strong bullish move except for a short pullback at level 2, can the trend continue on through Week 18? Well, the analysis suggested that we will be looking at a downward rally soon before the price continues back its bullish track.
Week 17 ended with a strong bullish move after the NFP and it stayed at its weekly high at close. That is a pretty strong statement of bullish power.
However, it has broken it's level 2 bullish zone, thus we are expecting some form of consolidations which might lead to a reversal if a reversal pattern occurs, if not it can continue an extended bullish move.
The analysis is suggesting a possible short opportunity in Week 18, which I agree. I am also looking at a longer-term bullish move might resume after the short term bearish move.
I hope all traders continue to make good profit in Week 18.
If my analysis helped you in any way, please like and follow me, thanks for your support!
With such a strong bullish move except for a short pullback at level 2, can the trend continue on through Week 18? Well, the analysis suggested that we will be looking at a downward rally soon before the price continues back its bullish track.
Week 17 ended with a strong bullish move after the NFP and it stayed at its weekly high at close. That is a pretty strong statement of bullish power.
However, it has broken it's level 2 bullish zone, thus we are expecting some form of consolidations which might lead to a reversal if a reversal pattern occurs, if not it can continue an extended bullish move.
The analysis is suggesting a possible short opportunity in Week 18, which I agree. I am also looking at a longer-term bullish move might resume after the short term bearish move.
I hope all traders continue to make good profit in Week 18.
If my analysis helped you in any way, please like and follow me, thanks for your support!
Nota
It should be end of Week 18, towards Week 19!
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