GBPUSD
GBPUSD 240 Analysis
Been in a long term downtrend within the channel currently grinding lower with Brexit talks and a strong US economy with a newly resolved trade war and strong data.
- THE BE A BULL: We are now seeing a rising uptrend; if we can break above the channel mean then some short term buying can be a potential setup but still unfavorable long term given political impacts.
- To sell this we need bulls to come in the market and get a higher price to be able to sell a break back into being bears.
For now - Nothing is setting up long term unless a break of the current rising trend line is favorable back to channel support.
PLEASE LET ME KNOW IF YOU FEEL I HAVE MADE ANY ERRORS OR IF I SHOULD CONSIDER ANOTHER VIEW POINT.
GBPUSD 240 Analysis
Been in a long term downtrend within the channel currently grinding lower with Brexit talks and a strong US economy with a newly resolved trade war and strong data.
- THE BE A BULL: We are now seeing a rising uptrend; if we can break above the channel mean then some short term buying can be a potential setup but still unfavorable long term given political impacts.
- To sell this we need bulls to come in the market and get a higher price to be able to sell a break back into being bears.
For now - Nothing is setting up long term unless a break of the current rising trend line is favorable back to channel support.
PLEASE LET ME KNOW IF YOU FEEL I HAVE MADE ANY ERRORS OR IF I SHOULD CONSIDER ANOTHER VIEW POINT.
Comment:
Moving average playing catch up with price and bulls have some control now. We may see some further rate cuts from the US Fed meaning bulls taking more control.