#GBPUSD, end of bear in Week 17, bullish in Week 18?
So sorry for not posting my analysis of Week 16, as I was overseas! However, I was trading through the week, so I am back with the analysis of the coming Week 18.
GBPUSD seems to have overextended its bearish move in Week 17, pretty much like the USDCHF. It ended the week with a reversal pattern at level 5 of the bearish trend. That made me incurred some losses as well in GBPUSD, I was expecting a further downward movement.
However, the analysis in Week 17 is now pointing us towards a bullish movement in Week 18. With a completed reversal pattern in bearish level 5 zone, it does look possible for the bull to regain its power for a bull ride in Week 18!
I will personally enter a long for GBPUSD in week 18, as well as long in EURUSD and short for USDCHF. Probably a smaller position for USDJPY as a risk control measure.
I hope all traders continue to make good profit in Week 18!
Please like and follow me if my analysis provided you with some insights, thank you for supporting me! =)
GBPUSD seems to have overextended its bearish move in Week 17, pretty much like the USDCHF. It ended the week with a reversal pattern at level 5 of the bearish trend. That made me incurred some losses as well in GBPUSD, I was expecting a further downward movement.
However, the analysis in Week 17 is now pointing us towards a bullish movement in Week 18. With a completed reversal pattern in bearish level 5 zone, it does look possible for the bull to regain its power for a bull ride in Week 18!
I will personally enter a long for GBPUSD in week 18, as well as long in EURUSD and short for USDCHF. Probably a smaller position for USDJPY as a risk control measure.
I hope all traders continue to make good profit in Week 18!
Please like and follow me if my analysis provided you with some insights, thank you for supporting me! =)
