Here is a look at the GBP/USD pair for the week ahead.
Currently @: 1.37380
Resistance @: 1.37600
break line @: 1.37800
buy stop @: 1.38000
sell stop @: 1.37000
TP 1 @: 1.36800
TP 2 @: 1.36000
We expect the GBP/USD to hit the resistance line then bounce back to 1.37000, 1.36700, & 1.35600 which was hit last week.
The last 1H chart has formed a " bearish shark" type harmonic pattern which suggests a short in the GBPUSD,
DXY remains an uptrend regardless of the fall on Friday due to NFP. US 10Y is at its highest which should boost DXY in the coming week
Currently @: 1.37380
Resistance @: 1.37600
break line @: 1.37800
buy stop @: 1.38000
sell stop @: 1.37000
TP 1 @: 1.36800
TP 2 @: 1.36000
We expect the GBP/USD to hit the resistance line then bounce back to 1.37000, 1.36700, & 1.35600 which was hit last week.
The last 1H chart has formed a " bearish shark" type harmonic pattern which suggests a short in the GBPUSD,
DXY remains an uptrend regardless of the fall on Friday due to NFP. US 10Y is at its highest which should boost DXY in the coming week