GBPUSD LONG DIRECTION AHEAD
After starting this week really slow,there is reasonable indication that USD will continue to go in that direction. GBP moved higher today,so before the begining of Asian session it will likely get some rest ahead of european session,where we can expect that bulls will continue to hold their position,and potential more investors will join the trend.
As we can see Technical analasys showed us that price action of this pair has rallied since 13th of november following the trend really smooth. We could have noticed that price action was in neutral,ranging movement for quite some time. After breaking ressistance point of that range move,that point automaticly becomes future support level. Technical indication on H4 time frame indicates that price will retest now support and continue its uptrend. As we hope bulls will get enough strenght to follow up with the move till next structure point,where we will set up our first targer,and from there on will managing our position.
Also,if we look on H1 time frame,we can see that techical analasys of that TF is in corelation with the previous mentioned H4 TF,so its legitimate to say that shorter TF is only confirming prediction that is presented.
H1 TF is showing as also that the price is in between channel lines,and just now as the cadles are creating wicks and bullish hammer are convincing that this trendline will be respected at least till the next structure point.
We can also using Pivot points as confirmation,just like Ichimoku cloud which represents now bullish sentiment.
On charts we can also see exponential moving averages(50,20) indicates uptrend and bullish direction.
And RR is looking pretty good----> 1:3
Hope all will turn out just fine.
Trade with care,
use this analasys only if you have same/simillar believes.
Use your capital managment wisely.
Good luck traders.
As we can see Technical analasys showed us that price action of this pair has rallied since 13th of november following the trend really smooth. We could have noticed that price action was in neutral,ranging movement for quite some time. After breaking ressistance point of that range move,that point automaticly becomes future support level. Technical indication on H4 time frame indicates that price will retest now support and continue its uptrend. As we hope bulls will get enough strenght to follow up with the move till next structure point,where we will set up our first targer,and from there on will managing our position.
Also,if we look on H1 time frame,we can see that techical analasys of that TF is in corelation with the previous mentioned H4 TF,so its legitimate to say that shorter TF is only confirming prediction that is presented.
H1 TF is showing as also that the price is in between channel lines,and just now as the cadles are creating wicks and bullish hammer are convincing that this trendline will be respected at least till the next structure point.
We can also using Pivot points as confirmation,just like Ichimoku cloud which represents now bullish sentiment.
On charts we can also see exponential moving averages(50,20) indicates uptrend and bullish direction.
And RR is looking pretty good----> 1:3
Hope all will turn out just fine.
Trade with care,
use this analasys only if you have same/simillar believes.
Use your capital managment wisely.
Good luck traders.
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