Preferred direction: BUY
Comment: Buyers insist on growth for the GBPUSD currency pair, where we expect an approach towards the level of 1.26500. The US dollar is likely to continue its downward correction at the beginning of this week, which in turn strengthens the main competitors of the American currency.
We are considering two main scenarios for this long trade, where the most likely growth according to scenario №1 assumes the strengthening of the British currency from current levels. It is unlikely that the instrument will need to roll back to 1.25346, from where the pair will most likely go up as well (scenario №2).
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: Buyers insist on growth for the GBPUSD currency pair, where we expect an approach towards the level of 1.26500. The US dollar is likely to continue its downward correction at the beginning of this week, which in turn strengthens the main competitors of the American currency.
We are considering two main scenarios for this long trade, where the most likely growth according to scenario №1 assumes the strengthening of the British currency from current levels. It is unlikely that the instrument will need to roll back to 1.25346, from where the pair will most likely go up as well (scenario №2).
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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