The bears are in control - GBP/USD

23 Nis 2018

Hello traders,

I would like to present you my views on the GBP/USD currency pair for this and probably the following few weeks.

I believe the bears are in total control of the market. Expectations are for a continuation of the downtrend throughout the week. Below I am sharing our target area in numbers and a few economic events of this week to take notice about.

You can check the video with the whole trading plan on Youtube.


Main Target: 1.3585-1.3550
H4 Stoppage Area: 1.3843 - 1.3893

Economic Overview:

Tuesday:

14:00 GMT

USD Consumer Confidence Index - Previous is 127.7 and Forecasted is 126. I don’t expect a huge change on this report.


Thursday:

12:30 GMT

USD Durable Goods Orders - Previous is 3% and forecasted is 1.4%. A huge difference between the two numbers. My expectations are for the final number to be between the two - around 1.5-1.7%.

Friday:

08:30 GMT

GDP Gross Domestic Product - Expectancy is to stay unchanged.

12:30 GMT

USD Gross Domestic Product Annualized - Expectancy is a drop of 0.9 points. Again I believe a the drop might be lower - around 0.5 points of the previous reading.

I wish everyone a profitable week and stay tuned for some short term trading plans! :)

7 May 2018

Emir iptal

Now that was a healthy over 400 pips move. I hope you did manage to grab some of that profits. This plan is no longer followed as the Main Target was reached. :)