GBPUSD Long position analysis (LONG TERM HOLD - NO SCALPING)
- On the monthly timeframe price has broken the bearish trend line but managed to close above 0.236 FIB,
- Keep in mind price is at very a strong monthly resistance level which will turn to support later on.
- Will wait for the price to pullback and take a long position at 1.34 or 1.35 to target 1.5 or (0.382FIB)
- 14 RSI has moved exactly with the chart and still not overbought yet.
Target will not touch in few weeks, might take up to 3 or 4 month this is not your average analysis and not scalping for sure.
Use proper risk management.
- Keep in mind price is at very a strong monthly resistance level which will turn to support later on.
- Will wait for the price to pullback and take a long position at 1.34 or 1.35 to target 1.5 or (0.382FIB)
- 14 RSI has moved exactly with the chart and still not overbought yet.
Target will not touch in few weeks, might take up to 3 or 4 month this is not your average analysis and not scalping for sure.
Use proper risk management.