GBPUSD: Thoughts and Analysis
Today's focus: GBPUSD
Pattern – Continuation
Support – 1.2270
Resistance – 1.2390
Hi, and thanks for checking out today's update. Today, we are looking at the GBPUSD on the daily chart.
For now, we contnue to watch a continuation pattern that's currently developing. We have selected the G/$ as, in this case, the confirmation bar has yet to form, and it's a decent example of trying to forecast the bar based on the pattern we are watching.
We have listed what we are looking for in today's video to confirm the pattern and warning signs to look out for in case it fails.
The EURUSD also shows the same setup but is further along in terms of confirmation. This pair is also worth watching for a potential continuation.
Both pairs rely on USD momentum remaining bearish, and we have also covered the USDX quickly in today's video.
Good trading.
Pattern – Continuation
Support – 1.2270
Resistance – 1.2390
Hi, and thanks for checking out today's update. Today, we are looking at the GBPUSD on the daily chart.
For now, we contnue to watch a continuation pattern that's currently developing. We have selected the G/$ as, in this case, the confirmation bar has yet to form, and it's a decent example of trying to forecast the bar based on the pattern we are watching.
We have listed what we are looking for in today's video to confirm the pattern and warning signs to look out for in case it fails.
The EURUSD also shows the same setup but is further along in terms of confirmation. This pair is also worth watching for a potential continuation.
Both pairs rely on USD momentum remaining bearish, and we have also covered the USDX quickly in today's video.
Good trading.
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