BullBearMkt

CABLE BIG PIX! - Bullish Wedge BreakOut Targeting 1.5000 In 2021

Long
OANDA:GBPUSD   British Pound / U.S. Dollar
Now that GBPUSD has violated the monthly bullish wedge (as explained in our 22/11/2020 post below), bullish rally may commence in 2021! First obstacle is at 1.4000 level which may likely cause the pair to pullback towards the first bullish-order-candle at 1.34000 level (or deeper at 1.25000). Any price rejection from thence will then be targeting 1.50000 and above.

N.B
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Comments

why is it moving like retracement?
Reply
BullBearMkt meysam4154
@meysam4154, Well, depends on your reference point; it remains retracement until the swing high is violated
+1 Reply
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