Despite the bullish overall market sentiment, continue to sell GBPUSD based on weekly trend and daily price action, as well as from USD recovery from higher yields in 10yr US T-bonds. TP is set @1.375 and SL @1.40.
www.marketpulse.com
Daily:
Weekly:
Confidence: B (must watch out this Friday though and better close position before the GDP news @8:30AM GMT)
* Price action heading into sell zone with the expectation of a hold signaling bullish weakness.
* This is the 3rd testing of that 1.5370 handle that is in sink with the fib- 0.500 level.
* Stochastic heading in overbought.
Downside bias with a change in momentum in the MACD
*Bullish on the upcoming reports this week however technical support a move to the downside.
