When will the Bullish move on GBP/USD stop?
Good morning traders, today we bring you the analysis of the GBP/USD, which, although it is indisputably bullish, it is good to know where to be careful in this move.
🔸Speaking a bit of context, we see that the price broke the Descending Trendline and the Resistance zone.
🔸After that, it generated a consolidation that lasted a few days.
🔸By breaking it to the upside, it starts this great momentum that we are currently witnessing.
🔸The question is, until when?
🔸Well, obviously we cannot establish with 100% accuracy, but if we analyze the weekly chart, we see that the next supply zone is approximately 300 pips away from the current price quote, at 1.4400.
🔸In that price zone, we consider that it would be safe to close the bullish positions, or, minimally take some profit, since without a doubt the price will react.
🔸Speaking a bit of context, we see that the price broke the Descending Trendline and the Resistance zone.
🔸After that, it generated a consolidation that lasted a few days.
🔸By breaking it to the upside, it starts this great momentum that we are currently witnessing.
🔸The question is, until when?
🔸Well, obviously we cannot establish with 100% accuracy, but if we analyze the weekly chart, we see that the next supply zone is approximately 300 pips away from the current price quote, at 1.4400.
🔸In that price zone, we consider that it would be safe to close the bullish positions, or, minimally take some profit, since without a doubt the price will react.
Feragatname
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