GBPUSD is in a bullish channel and bullish momentum is increasing despite the brexit tentions
However a break above resistance level is expected and a breakout strategy can be implemented
and a buy position is triggered as price breaks resistance levels
Buy opportunity can be identified at support level when price pullback and touches the 200 EMA and a swing trading strategy can be implemented placing stop loss below 200 EMA and targets above resistance levels
In a addition COT data indicates The hedge funds placing long positions on the pound and shorting the American dollar
which confirms the bullish momentum of buyers may continue throughout the 1st week of July
good luck and cheers
support more of my ideas on social media
www.instagram.com/mfxbulls
www.twitter.com/michael_chenj
However a break above resistance level is expected and a breakout strategy can be implemented
and a buy position is triggered as price breaks resistance levels
Buy opportunity can be identified at support level when price pullback and touches the 200 EMA and a swing trading strategy can be implemented placing stop loss below 200 EMA and targets above resistance levels
In a addition COT data indicates The hedge funds placing long positions on the pound and shorting the American dollar
which confirms the bullish momentum of buyers may continue throughout the 1st week of July
good luck and cheers
support more of my ideas on social media
www.instagram.com/mfxbulls
www.twitter.com/michael_chenj