GBPUSD- Testing Support Expecting Trend Continuation
GBPUSD fell down on Fundamental changes on Friday. The pair is on Bull run for Some days. Currently price is above 200 MA on 4 H chart and testing the 200 DMA (acting as support).
Price is at crucial stage :
1-Testing the upward trendline.
2- Fib 61.8 (Short Graph)
3- Testing 200 DMA.
To me we can buy on these levels. If 1.2100 is broken (by 20-30 pips) we can enter sell due to breaking of Trendline, Fib 61.8 and 200 DMA.
I think Price will continue its upward direction from here. Any changes in GBP fundamental may cause the breakout downward.
Do comment on the idea!
Good Luck
Price is at crucial stage :
1-Testing the upward trendline.
2- Fib 61.8 (Short Graph)
3- Testing 200 DMA.
To me we can buy on these levels. If 1.2100 is broken (by 20-30 pips) we can enter sell due to breaking of Trendline, Fib 61.8 and 200 DMA.
I think Price will continue its upward direction from here. Any changes in GBP fundamental may cause the breakout downward.
Do comment on the idea!
Good Luck