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drilonn001

Expecting a test of M_PP for the GBPUSD

Singkat
Paun British / Dolar A.S. (FX:GBPUSD)  
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FX:GBPUSD   Paun British / Dolar A.S.
Trend Analysis Chart Patterns
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trendanalysis chartpattern
For this week for the GBPUSD pair we expect some bullish price action to test the resistance at M_PP where we think price will find a lot of bears who will push the price down with very strong move. The area around the M_PP represents a support/resistance from the week of Brexit in 2016 so we think these levels are closely watched from a lot of traders. If price reaches this area one more time we will try to get a short position on the market and try to ride it at least to the M_S1 where price can find some support.
Komen:
The pressure continues on the GBPUSD pair now for the second week in a row and now the pair is approaching the M_S1 area where it could find some support. This area held as a strong support few times during 2017 so we will wait to see how the price reacts to this area. If we have some bullish evidence we may consider a long position.
Komen:
For this week the GBPUSD pair did not convince us to open any trading position. The price at the moment of writing is in the middle of the M_PP and M_S1 so we will see how the price will move and close tomorrow and then try to plan the trades for the next week based on the nearest support/resistance structures.
Penafian

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