GBPUSD made a sharp rise in week 9, and it was the opposite of what the analysis showed in week 8.
In week 8, it was expected that the pair would move downwards, rather than a rise because of the reversal pattern spotted.
A red flag would have been spotted given that a long consolidation occurred and the price did not shift down as expected.
For week 10, I would expect some consolidation and I would not trade it until a clear candlestick combination show itself. However, I would still be looking for a short entry rather than a long entry.
I hope all traders to continue with a profitable Week 9 ahead. Please share your thoughts below, like and follow me for my weekly analysis on EURUSD, GBPUSD, USDJPY, and USDCHF!
In week 8, it was expected that the pair would move downwards, rather than a rise because of the reversal pattern spotted.
A red flag would have been spotted given that a long consolidation occurred and the price did not shift down as expected.
For week 10, I would expect some consolidation and I would not trade it until a clear candlestick combination show itself. However, I would still be looking for a short entry rather than a long entry.
I hope all traders to continue with a profitable Week 9 ahead. Please share your thoughts below, like and follow me for my weekly analysis on EURUSD, GBPUSD, USDJPY, and USDCHF!
