Potential Long Set-Up to 1.33
Updated
Hi all,
With the EU getting ready to offer a 'super-charged' free-trade deal to the UK in order to reach a Brexit deal, We could potentially look to long The Cable
We should see GBP/USD pullback to the regions of 1.30557(61.8%)-1.30383(200 EMA) before continuing its onslaught towards the regions of 1.33011(61.8% of 16th APR to 16th AUG Impulse wave)
Potential News on the 10th October of UK's GDP and MP data could support GBP/USD move upwards.
Trading Strategy 1: Short GBP/USD to region of 1.30383 to 1.29950
Trading Strategy 1.1: Should GBP/USD continue its move upwards, look for key resistance level, 1.316 to short the correction wave to above mentioned region
Trading Strategy 2: Long GBP/USD from regions of 1.30383-1.29950 and catch 3rd wave upwards to region of 1.32663-1.33452
Resistance: 1.3119, 1.3161, 1.3216
Support: 1.3038, 1.3054, 1.3066
Good Luck,
Mh
With the EU getting ready to offer a 'super-charged' free-trade deal to the UK in order to reach a Brexit deal, We could potentially look to long The Cable
We should see GBP/USD pullback to the regions of 1.30557(61.8%)-1.30383(200 EMA) before continuing its onslaught towards the regions of 1.33011(61.8% of 16th APR to 16th AUG Impulse wave)
Potential News on the 10th October of UK's GDP and MP data could support GBP/USD move upwards.
Trading Strategy 1: Short GBP/USD to region of 1.30383 to 1.29950
Trading Strategy 1.1: Should GBP/USD continue its move upwards, look for key resistance level, 1.316 to short the correction wave to above mentioned region
Trading Strategy 2: Long GBP/USD from regions of 1.30383-1.29950 and catch 3rd wave upwards to region of 1.32663-1.33452
Resistance: 1.3119, 1.3161, 1.3216
Support: 1.3038, 1.3054, 1.3066
Good Luck,
Mh
Note
We should see GBP/USD move sideways till the white vertical line till 10th October
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.