GBPUSD Weekly Analysis April 3rd - 7th
On a Weekly time frame, the market is in accumulation phase where it is has been in sideways with 1.2770 as the resistance level and 1.2110 as the support level.
On a Daily time frame, the market shows sign of buying pressure and is about to break above SMA200. RSI is above 50 while MACD has printed above 0 level and its signal line is printed inside the histogram, this suggests a bullish momentum.
Scenario A. A break above 1.2770 is a higher probability for buying opportunity
Scenario B. If the price rally towards 1.2760 and shows sign of bearishness then we probably see a continuation of sideways movement.
Scenario C. If the price dips towards 1.2397, a change momentum has started and it will be a good to short the market.
Another option is to find other GBP pairs (EURGBP, GBPJPY, GBPAUD and GBPNZD) as both GBP and USD are strong currencies since last week.
SL @ 1.2412
Buy stop @ 1.2620
TP1 @ 1.2770
TP2 @ 1.2875
Alternative trade
SL @ 1.2412
Sell stop @ 1.2397
TP1 @ 1.2130
On a Daily time frame, the market shows sign of buying pressure and is about to break above SMA200. RSI is above 50 while MACD has printed above 0 level and its signal line is printed inside the histogram, this suggests a bullish momentum.
Scenario A. A break above 1.2770 is a higher probability for buying opportunity
Scenario B. If the price rally towards 1.2760 and shows sign of bearishness then we probably see a continuation of sideways movement.
Scenario C. If the price dips towards 1.2397, a change momentum has started and it will be a good to short the market.
Another option is to find other GBP pairs (EURGBP, GBPJPY, GBPAUD and GBPNZD) as both GBP and USD are strong currencies since last week.
SL @ 1.2412
Buy stop @ 1.2620
TP1 @ 1.2770
TP2 @ 1.2875
Alternative trade
SL @ 1.2412
Sell stop @ 1.2397
TP1 @ 1.2130
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.