GBPUSD Long Idea
On the weekly, price is hanging around between the 1.32000 and the 1.22000 levels, despite a bearish fake-out kissing the 1.14000 before shooting back up to the respected 1.22000 level.
On the daily chart, price has been ranging between 1.28000 and 1.22000 since mid to late March.
However, once we dip into the 4H chart do we begin to see a clearer picture. Swingers paradise as it seems, with price hitting 1.28000 and gently making its way back down to 1.22500, and seemingly making its way back up.
We have price still in the same bullish channel as last week. We have a 0.50 Fib rejection, however price is lingering between the 0.382 and the 0. There is an 8MA crossover to the bottom-side of price, where the 50MA also dwells.
Nothing but buy signals, will this ceiling be broken? If the ceiling is broken, we will be targeting the next ceiling and the next. Trade what you see though, I try to not predict. When you approach the market like you know it, it slaps you senseless.
Hopefully, if the bulls do run and all works out - we will be getting paid this week.
On the daily chart, price has been ranging between 1.28000 and 1.22000 since mid to late March.
However, once we dip into the 4H chart do we begin to see a clearer picture. Swingers paradise as it seems, with price hitting 1.28000 and gently making its way back down to 1.22500, and seemingly making its way back up.
We have price still in the same bullish channel as last week. We have a 0.50 Fib rejection, however price is lingering between the 0.382 and the 0. There is an 8MA crossover to the bottom-side of price, where the 50MA also dwells.
Nothing but buy signals, will this ceiling be broken? If the ceiling is broken, we will be targeting the next ceiling and the next. Trade what you see though, I try to not predict. When you approach the market like you know it, it slaps you senseless.
Hopefully, if the bulls do run and all works out - we will be getting paid this week.
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