GBPUSD Weekly Analysis Feb 27 - March 3

FX:GBPUSD   British Pound / U.S. Dollar
57 0 2
The market is currently in sideways and the pattern has potentially formed a pennant flag.

A break above 1.2564 would start the bullish pennant flag formation , however, a break below 1.2293 would start the higher time frame downtrend.
Comment: Our forecast to break below 1.2293 was triggered and went down 81 pips @ 1.2212. However, the market reversed during Friday afternoon session (which is typical every Friday afternoon).

If the market during Monday closes with bullish candle, we may see a momentum reversal. This will give us a good buying opportunity at Tuesday opening (as long as Monday candle closed bullish) with a target 1.2663.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out