Hi all,
With the EU getting ready to offer a 'super-charged' free-trade deal to the UK in order to reach a Brexit deal, We could potentially look to long The Cable
We should see GBP/USD pullback to the regions of 1.30557(61.8%)-1.30383(200 EMA) before continuing its onslaught towards the regions of 1.33011(61.8% of 16th APR to 16th AUG Impulse wave)
Potential News on the 10th October of UK's GDP and MP data could support GBP/USD move upwards.
Trading Strategy 1: Short GBP/USD to region of 1.30383 to 1.29950
Trading Strategy 1.1: Should GBP/USD continue its move upwards, look for key resistance level, 1.316 to short the correction wave to above mentioned region
Trading Strategy 2: Long GBP/USD from regions of 1.30383-1.29950 and catch 3rd wave upwards to region of 1.32663-1.33452
Resistance: 1.3119, 1.3161, 1.3216
Support: 1.3038, 1.3054, 1.3066
Good Luck,
Mh
With the EU getting ready to offer a 'super-charged' free-trade deal to the UK in order to reach a Brexit deal, We could potentially look to long The Cable
We should see GBP/USD pullback to the regions of 1.30557(61.8%)-1.30383(200 EMA) before continuing its onslaught towards the regions of 1.33011(61.8% of 16th APR to 16th AUG Impulse wave)
Potential News on the 10th October of UK's GDP and MP data could support GBP/USD move upwards.
Trading Strategy 1: Short GBP/USD to region of 1.30383 to 1.29950
Trading Strategy 1.1: Should GBP/USD continue its move upwards, look for key resistance level, 1.316 to short the correction wave to above mentioned region
Trading Strategy 2: Long GBP/USD from regions of 1.30383-1.29950 and catch 3rd wave upwards to region of 1.32663-1.33452
Resistance: 1.3119, 1.3161, 1.3216
Support: 1.3038, 1.3054, 1.3066
Good Luck,
Mh
Comment:
We should see GBP/USD move sideways till the white vertical line till 10th October