GBPUSD: Two Scenarios For Next Week!
By VasilyTrader
On Friday we have not seen any strong movement and for now, it is clear that the pair is stuck in consolidation:
from Thursday the pair is trading within 1.252 - 1.242 and market participants are waiting for some trigger.
Next week pay attention to a breakout of the range.
In case of a bullish breakout, the market will most likely continue a bullish rally following the current bullish trend .
we will aim at the retest of the current high - 1.263
In case of a bearish breakout, the market may go lower and we will aim at 1.232
Let the market decide its direction and then just follow!
I am still long-biased here based on the previous price action. but who knows...
Good luck and have a great weekend!
Its the update for my previous post on GBP/USD.
On Friday we have not seen any strong movement and for now, it is clear that the pair is stuck in consolidation:
from Thursday the pair is trading within 1.252 - 1.242 and market participants are waiting for some trigger.
Next week pay attention to a breakout of the range.
In case of a bullish breakout, the market will most likely continue a bullish rally following the current bullish trend .
we will aim at the retest of the current high - 1.263
In case of a bearish breakout, the market may go lower and we will aim at 1.232
Let the market decide its direction and then just follow!
I am still long-biased here based on the previous price action. but who knows...
Good luck and have a great weekend!
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