Good Day traders !!
ON this pair we have on the Daily timeframe a massive impulse that we started two months ago and we are approaching a very strong supply zone in the monthly timeframe. We did break the previous high during the last week and retested the previous resistance turned support. From an institutional perspective we have a lot of short positions added on the JPY and hedge funds closed more short than longs on GBP which means a GBP even stronger. We are expecting the price to reach at least the 152.500 This week with a potential final target around 154.000.
We have two setups for this pair , one for the long term and one for next week with a good R/R.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
ON this pair we have on the Daily timeframe a massive impulse that we started two months ago and we are approaching a very strong supply zone in the monthly timeframe. We did break the previous high during the last week and retested the previous resistance turned support. From an institutional perspective we have a lot of short positions added on the JPY and hedge funds closed more short than longs on GBP which means a GBP even stronger. We are expecting the price to reach at least the 152.500 This week with a potential final target around 154.000.
We have two setups for this pair , one for the long term and one for next week with a good R/R.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
