GBP-USD SHORT TERM ANALYSIS
Another quick chart on GBP-USD on the 4H time frame.
THE SELL CONDITION
Looking at this chart shows two possible outcomes for the GBP-USD pair. with the trendline (B) holding it's grip since may with multiple rejections giving us a nice short term up trend. A breakout from this trend should send us down to a daily support level around 1.20000. While we wait for this trend to be broken, let's take a look at this from another angle
THE BUY CONDITION
We might see and big move to the upside, reaching the daily resistance at 1.350000. If we're looking to catch this buy, then we have to keep our eyes on the trend line (A) where we should be looking for a breakout for a good long towards the resistance.
Overall, i believe we would probably hit the resistance and then see a good pull back before the next move is decided.
Let me know what you think, Leave your ideas and thoughts in the comment section. Also don't forget to like and follow for more updates.
THE SELL CONDITION
Looking at this chart shows two possible outcomes for the GBP-USD pair. with the trendline (B) holding it's grip since may with multiple rejections giving us a nice short term up trend. A breakout from this trend should send us down to a daily support level around 1.20000. While we wait for this trend to be broken, let's take a look at this from another angle
THE BUY CONDITION
We might see and big move to the upside, reaching the daily resistance at 1.350000. If we're looking to catch this buy, then we have to keep our eyes on the trend line (A) where we should be looking for a breakout for a good long towards the resistance.
Overall, i believe we would probably hit the resistance and then see a good pull back before the next move is decided.
Let me know what you think, Leave your ideas and thoughts in the comment section. Also don't forget to like and follow for more updates.
Penafian
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