Idea for GBPUSD next week.
Have you ever heard about Newton's Law of Motion : I surely you learned it in high school.
The first Law is : "When viewed in an inertial reference frame, an object either is at rest or moves at a constant velocity, unless acted upon by an external force"
The first law is also very appropriate to trade Forex , commodity, as well as stock.
The dynamic driving GBPUSD higher last week is the hawkish stance in UK Inflation report.
The bias of GBPUSD now is LONG, and this bias would continue unless there is a strong intervene.
The problem is what is the destination of GBPUSD. I draw on the chart all possible targets. I choose 76.4% Fib extension: 1.6832
The first Law is : "When viewed in an inertial reference frame, an object either is at rest or moves at a constant velocity, unless acted upon by an external force"
The first law is also very appropriate to trade Forex , commodity, as well as stock.
The dynamic driving GBPUSD higher last week is the hawkish stance in UK Inflation report.
The bias of GBPUSD now is LONG, and this bias would continue unless there is a strong intervene.
The problem is what is the destination of GBPUSD. I draw on the chart all possible targets. I choose 76.4% Fib extension: 1.6832
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