GBP/USD - What Will It Take...?
Happy new year traders!
This is a perfect time to do a review on GBPUSD as it's the 1st month where you see the beginnings of the 6-Month candle form, which can be very powerful for gauging a bias.
3 consecutive 6-month candles has closed bearish, whilst respecting the SIBI and attacking short term highs.
Short term plays to the upside utilising the 1-min timeframe is possible but in the grand scheme of the bias, which is bearish, I look to target 1.12287.
This could take several months to years but there is no solid positive fundamentals to give me the confidence that the UK economy will improve any time soon.
This is a perfect time to do a review on GBPUSD as it's the 1st month where you see the beginnings of the 6-Month candle form, which can be very powerful for gauging a bias.
3 consecutive 6-month candles has closed bearish, whilst respecting the SIBI and attacking short term highs.
Short term plays to the upside utilising the 1-min timeframe is possible but in the grand scheme of the bias, which is bearish, I look to target 1.12287.
This could take several months to years but there is no solid positive fundamentals to give me the confidence that the UK economy will improve any time soon.
כתב ויתור
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