Good morning everyone!
Here is my thoughts about cross GBP/USD.
Key levels:
Daily chart:
Tight channel formed since Brexit day between 1.3480 and 1.2800 - keep ou of the trading - neutral
H4 chart
a) Forecast: Down
b) Decreasing longitudinal line until 1.3270
c) 1st support: 1.3167
d) 2nd support: 1.3137
Decision: stay out for now. Wait until rate touch the support to buy after an upside candle or buy if it breaks the longitudinal line
Here is my thoughts about cross GBP/USD.
Key levels:
Daily chart:
Tight channel formed since Brexit day between 1.3480 and 1.2800 - keep ou of the trading - neutral
H4 chart
a) Forecast: Down
b) Decreasing longitudinal line until 1.3270
c) 1st support: 1.3167
d) 2nd support: 1.3137
Decision: stay out for now. Wait until rate touch the support to buy after an upside candle or buy if it breaks the longitudinal line