AlkalineFX

GBPUSD Don't get Caught in the Trap

Long
FX:GBPUSD   British Pound / U.S. Dollar
I think most of the market as of now was following the bearish trend and most retail traders would have placed sells at the trend line touch, however, I believe we are seeing a structural shift and a potential u-turn in the market. My bias as of now is bullish .
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Comments

@FQ07 yeah me too, obviously seen analysis from the D1 chart. Any idea how @AlkalineFX got "PREMIUM" title ? ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚
+6 Reply
FQ07 Eipannnn
@Eipannnn, it has hold the support around 1.2050 area n bounce back so the resistance is at around 1. 2400, n there is a gap at 1.2490/80 area, as I said I m not expert but that's what I think, ๐Ÿ˜Š๐Ÿ‘
Reply
Unlucky. Should have shorted like "everyone else"
+2 Reply
AlkalineFX UnknownUnicorn772665
@UnknownUnicorn772665, Completely agree, must admit when I'm wrong.
Reply
Nice analysis and Could you check my GU analysis
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It is reasonable we are trapped, technically it looked like small V patterns and stood on 60 EMA. I supposed to change to long as well. On the foundational terms, re open business donโ€™t mean economy boom, as. Lots of business open with high budget and label cost etc. and wonโ€™t get very profitable. So re open just a sign but wonโ€™t mean anything. GBP probably will be very weak. Good luck guys
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AlkalineFX QGuo-Shane
@QGuo-Shane, Nice outlook will bear in mind! Hope your trading week has been good?
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Need to look at daily sticks.... got a clear double top with a touch on resistance line test. Stronger signal on daily to short....
Reply
AlkalineFX aurimaso
@aurimaso, I agree the trade set up looks great for a sell, my bias still remains bullish but I respect everyone's opinion!
Reply
aurimaso aurimaso
I would only remain on a bullish bias fundamentally due to the fact the uk is re-opening businesses quicker than the US. Technically looks bearish. So as always itโ€™s up to the trader haha
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