GBPUSD: Bullish reaction is coming?

Although we cannot yet rule out a new bottom on daily chart, from a technical point of view, we are approaching an interesting support area, and this should trigger a bullish reaction on the pair. That said, our short-term view is bullish and we will follow the development in the next few hours on intraday chart (Reversal Pattern formation is necessary to trigger the rally).

Trade with care
Like | Share | Comment

Komentarz:

📊 Trend is still bearish on intraday chart (1H):

Komentarz:

🔴 GBP/USD received a much-needed reprieve on Wednesday with bond-market help, and if the U.S. 30-year Treasury yields' rejection of 5% and 10-year notes falling short of 4.9%, the key now is whether these reversals hold, which would allow greater room for a sterling rebound.
While bond market moves will continue to dictate much of the action, the pound has also been underpinned by a sizeable upward revision to the flash services PMI report. The final reading showed an upgrade to 49.3 from 47.2, albeit still in contraction territory.
A key day reversal in GBP/USD is an encouraging sign for dip-buyers. However, should the move be considered more than a countertrend rally, a close above 1.2270-1.2300 would likely be needed.

Komentarz:

Komentarz:

Komentarz:

Komentarz:

Komentarz:

📊 Intraday Chart:

Komentarz:

Komentarz:

🔴 If the pair wants to trigger a new Top (15' chart), 1.2160 is the first support area (then 1.2140).

Komentarz:

Transakcja zamknięta: osiągnięto wyznaczony cel:

✅ Congratulation everybody!