TRADE TYPE: SWING
Although
GBPUSD
has been bearish over the long-term, recently it has been extremely bullish, consistently making higher-highs and higher-lows. This could be part due to the fact that we are bouncing off of LONG-TERM support at weekly and monthly lows. Regardless, with today's news between the ECB and U.S. Jobless Claims price action has broken out of the indecisive ranging wedge that it was trading within throughout this week. Making a new high, we are expecting to see a bit of a sell-off out of Asia and during early London hours before another upside rally. The 1.44000 level poses a HUGE line in the sand for further upside movement, with a gap-down in price seen on every time frame including the Daily. This gap in price shows A LOT of selling pressure at that 1.44000 level that we do not want to mess with. We will look to take profits just before that figure if this trade plays out, and if we happen to break above 1.44000 with strong conviction, we could see even further upside on this pair!
Here at Unique4xPro we pride ourselves in being the World's first "Virtual Forex Trading Floor" where we will turn ANYONE that trades with us into a profitable for FREE! That's right... for FREE! All you need to do is to fund your own trading account.
If you want to join our trading team check out www.Unique4xPro.com
Also follow us on all of our social media:
Twitter @ Unique4xPro
Snapchat @ Unique4xPro
Instagram @ Unique4xPro
Tune in to our daily live market reviews @ 4:30 PM EST on Periscope @ Unique4xPro
Although
GBPUSD
has been bearish over the long-term, recently it has been extremely bullish, consistently making higher-highs and higher-lows. This could be part due to the fact that we are bouncing off of LONG-TERM support at weekly and monthly lows. Regardless, with today's news between the ECB and U.S. Jobless Claims price action has broken out of the indecisive ranging wedge that it was trading within throughout this week. Making a new high, we are expecting to see a bit of a sell-off out of Asia and during early London hours before another upside rally. The 1.44000 level poses a HUGE line in the sand for further upside movement, with a gap-down in price seen on every time frame including the Daily. This gap in price shows A LOT of selling pressure at that 1.44000 level that we do not want to mess with. We will look to take profits just before that figure if this trade plays out, and if we happen to break above 1.44000 with strong conviction, we could see even further upside on this pair! Here at Unique4xPro we pride ourselves in being the World's first "Virtual Forex Trading Floor" where we will turn ANYONE that trades with us into a profitable for FREE! That's right... for FREE! All you need to do is to fund your own trading account.
If you want to join our trading team check out www.Unique4xPro.com
Also follow us on all of our social media:
Twitter @ Unique4xPro
Snapchat @ Unique4xPro
Instagram @ Unique4xPro
Tune in to our daily live market reviews @ 4:30 PM EST on Periscope @ Unique4xPro