GBPUSD Weekly Analysis 14-01-23

14 thg 1, 2023

Update weekly GBPUSD

Strength
1) As you can see from the price action candle indicate there wil be further going north.Long bias
2) A Potential Inverted head and shoulder pattern soon will be formed, Based from the price action
3) My TP1 will be on the YELLOW for short term profit. Long term TP2 will be on the GREEN

Weakness
1) I added for fibonacci retracements,indicates price rejected at 0.5 for several weeks. So if breaks ABOVE 0.5,next one will be heading to GOLDEN RATIO (61.8)

Conclusion
I am still LONG bias on GBPUSD for the further weeks.
Therefore daily routine i will be searching for good BUY setups whether based on pattern, trend S/R etc

14 thg 1, 2023

Ghi chú

Why I consider UPTREND ??
Because already breaking 1.22932 from the candle On 1st aug in the weekly candle

thats why i am beginning to find BUY setup after the breakup

19 thg 1, 2023

Giao dịch đang hoạt động

Lets see if this week can break above fibo 0.5