GBUPSD H4 Analysis
Updated
The GBPUSD chart is creating a bullish falling wedge with an uptrend potential. The technicals have shown to be very strong, with the quick recovery the GBP pairs gained after the economic news on Thursday and Friday. Furthermore, as COVID-19 cases are plummeting in the USA, the USD should weaken this week against GBP. As fundamentals are in accordance to technicals, the trade would be executed as follows:
GBPUSD
BUY: 1.25000
SL: 1.23500
TP1: 1.26000
TP2: 1.27000
GBPUSD
BUY: 1.25000
SL: 1.23500
TP1: 1.26000
TP2: 1.27000
Note
Hit the first TP as predicted; now waiting for TP2 to be reached.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.