GBPUSD WEEKLY OUTLOOK JUNE 15-19

12 thg 6, 2020

GBPUSD is looking to fulfill an head+shoulders pattern based on the 4H and lower timeframes. The markets reacted this week with the Federal Funds Rate being kept at 0.25% for the USD. The markets have reacted strongly to that decision and has showed signs of trend reversals/USD strength in most pairs. The criteria I am looking for regarding this pair is 1 of 3 things. A 4HR bearish closure below 1.24730. Whether that be a bearish engulfing candlestick, bearish inside bar pattern, or a bearish pin bar candlestick. This should take this pair to 1.23500, which would equate to about 120 or so pips. Patience is key.