The GBPUSD chart is creating a bullish falling wedge with an uptrend potential. The technicals have shown to be very strong, with the quick recovery the GBP pairs gained after the economic news on Thursday and Friday. Furthermore, as COVID-19 cases are plummeting in the USA, the USD should weaken this week against GBP. As fundamentals are in accordance to technicals, the trade would be executed as follows:
GBPUSD
BUY: 1.25000
SL: 1.23500
TP1: 1.26000
TP2: 1.27000
GBPUSD
BUY: 1.25000
SL: 1.23500
TP1: 1.26000
TP2: 1.27000
Commentaire:
Hit the first TP as predicted; now waiting for TP2 to be reached.