GBPUSDDue to a clear picture of the continuous rise of the British Pound vs USD, the short move to the downside is more visualized as a pullback, while price is coming for a test at the 1.39515 level for a possible continuation back to the upside the entire week. What makes this even more favorable is the recent decline in the Dollars after a huge rise was seen from past days of last week. Now we can be sure to continue the move to the upside, but let's wait for that H1 confirmation before we become over confident in our bias. I will have my stoploss at 1.39275 while going for that nice R:R at a TP level of 1.40305.
Disclaimer: Charts publish in here are for educational purposes and to give my personal view of the market and share how my thoughts are portrayed, I’m not a licensed financial advisor or investor, and/or do not have absolute (100%) win bias over the markets. The Forex and Stocks markets can be tricky and have the absolute finals over its movements. Past profits does not guarantee future gains, Trade at your own Risk and Learn to trade safe always. :)
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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.