POUND-More bull might be 2 much!!
Hi everyone
We all red the news from the federal reserve,well considering that many might think we can reach higher for GBPUSD. Well news always have a huge impact, but traders might have more.
In 4 hours chart we have a bull wedge pattern and in case of breaking out of the trend line, the trend might go side way or bearish( more likely). Now we have a lower high which might be a good indication for many traders to take short right here.
Support factors are bull trend line and level of 1.26$, and for resistance we have the prior high and 1.265$(might get a 2 bar reversal here)
Hope this analysis helps you in a way.
I will answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.
We all red the news from the federal reserve,well considering that many might think we can reach higher for GBPUSD. Well news always have a huge impact, but traders might have more.
In 4 hours chart we have a bull wedge pattern and in case of breaking out of the trend line, the trend might go side way or bearish( more likely). Now we have a lower high which might be a good indication for many traders to take short right here.
Support factors are bull trend line and level of 1.26$, and for resistance we have the prior high and 1.265$(might get a 2 bar reversal here)
Hope this analysis helps you in a way.
I will answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.
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