GBPUSD | The Cable is ready to be pulled out of the ocean
#GBPUSD 4H | #Swing trade
The Cable (nickname for GBPUSD) has been in a bearish since March. And we think it might be time for this pair to reverse. So we are bullish on this pair for the next few weeks.
Technically, The Cable has already broken the bearish trendline that has formed in late April, which indicates that a change in trend is about to happen (in the short-term at least).
:newspaper: Fundamentals to look out for:
- U.S. CB Consumer Confidence
- U.S. New Home Sales
- U.S. Core Durable Goods Orders MoM
- U.S. Gross Domestic Product (GDP) QoQ
- U.S. Initial Jobless Claims
- U.S. Pending Home Sales MoM
- U.S. Crude Oil Inventories
Risk ONLY: 2-3%
Good Luck!
The Cable (nickname for GBPUSD) has been in a bearish since March. And we think it might be time for this pair to reverse. So we are bullish on this pair for the next few weeks.
Technically, The Cable has already broken the bearish trendline that has formed in late April, which indicates that a change in trend is about to happen (in the short-term at least).
:newspaper: Fundamentals to look out for:
- U.S. CB Consumer Confidence
- U.S. New Home Sales
- U.S. Core Durable Goods Orders MoM
- U.S. Gross Domestic Product (GDP) QoQ
- U.S. Initial Jobless Claims
- U.S. Pending Home Sales MoM
- U.S. Crude Oil Inventories
Risk ONLY: 2-3%
Good Luck!
Trade active:
Trade closed: target reached:
Target 2 SMASHED (140 pips)
Comment:
After GBPUSD hit Target 2 TO THE EXACT POINT, the price is currently retesting the support area, and we are expecting #GBPUSD to go up again to hit our Target 3.
Comment:
For the people who are waiting, Extended Target 3 is now invalid.
Congrats if you took this trade, ~120+ pips when Target 2 hit.
Congrats if you took this trade, ~120+ pips when Target 2 hit.