GBP WEEKLY REPORT
Updated
GBPUSD We had a pretty eventfull week last week , with the U.S election around the corner & continuation of the brexit talks we as traders have alot to look forward to in the upcoming weeks. Last week GBP rose +290 pips against the greenback , if we continue to get good news around brexit & the U.S stimulus package we could definitely see another bull run toward the top of the channel which would be another +250 to +300 pips. At the end of the trading week GBP retraced 50% of last weeks agains back to my optimal trading zone around 1.30090 ( red zone) , which is a good place to reload your positions for the next possible bull run. My advice would be to wait until market tests that area at least 2-3 times possible forming a double or triple bottom before entering or just wait until market breaks out the engulfing bull flag seen on the 1HR chart , which would be a good indication that the market is ready for the continuation of the bullish trend.
LET ME KNOW YOUR THOUGHTS IN THE COMMENT SECTION....
Note
GBP held nicely over the support area around 1,29946 , a daily close above the weekly highs around 1.31800 wound confirm the trend continuation...Note
final lap!! lets gooo
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