Here on the GBPUSD, we can see that price is currently in a descending channel however. I believe price is showing signs of a bullish reversal. price is starting to form a descending wedge pattern and also a gradual loss of volume (consolidation/contraction). In this week commencing, i am looking to see a break above prices previous swing Hi (@1.31800) followed by that level acting as support.
I am looking to close the position at prices previous level of resistance which has pushed the market around multiple times (@1.32648).
Thanks
I am looking to close the position at prices previous level of resistance which has pushed the market around multiple times (@1.32648).
Thanks
Comment:
As we can see, GBPUSD has carried on a bearish push, this may be due to speculations with Brexit and also the fear of COVID-19, i ended up not executing a trade here as the set up i was looking for was not present at all.