GBP USD has a habit of rising during summer holidays for higher exchange rate.
Today target is 1.21 possibly This is due to dxy weakness expected
Short term target for GBPUSD 1.2470. Possible to reach this week
Will mostly likely range within the triangle until the next leg down to 1.3730.
Buying at the first red line. Simple as. SL could be 1.3650
Today’s possible target 1.3788
Double top
Following the arrows
It’s began
Don’t get caught up in a short.
Chart speaks for itself
Ignore the previous GU graph. My tp changed to 1.2360
Ignore the previous dxy graph. Upon doing further analysis I realised it’s a bearish rising wedge pattern.
Dxy up. GBPUSD down. Simple as
Dxy up, GBP/USD down.
Clear target. Tp at line.
If this outbreak out of a triangle is meaningful then we should see a move like this. Drop to 1.22 then retest triangle and drop back down. GL
Next target 1.25