GBPUSD Forex Analysis July 10-14

FX:GBPUSD   British Pound / U.S. Dollar
68 0
A. Since the double-bottom, the market is forming higher highs and higher lows
B. Double-top forming
C. Bearish Engulfing
D. Uptrend formed (Higher high, followed by higher low)
E. SMAs 20&100 show is sloping up suggesting an uptrend.

In summary:
Since January we have seen a growth on GBP currency and on a mid-term time frame, I see uptrend. But on a longer time frame (W1) I still see a strong bearish opportunity.

Plan A:
On a shorter time-frame, we are currently in a retracement where we can see a a double-top is forming and the recent
NFP gave USD a boost that sends the market into a 90+ pips down. As a result, this gives us a bearish opportunity.

But if the market reaches 1.2644 and then followed by a bullish evidence, this gives a higher probability for a bullish

Plan B:
If the market breaks the recent high of 1.3060, this signals a strong bullish opportunity


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