DislikedI have just completed my weekly scan and analysis on the pairs on my watch list. Only three of the pairs are amenable to trading with my strategy and techniques during the week. These are: GBPAUD, GBPNZD and GBPUSD. I will look for opportunities to trade them southward within my identified and clearly defined areas. What about you? Have you done your weekly analysis and chosen the pairs you would like to trade? Share your analysis and outlook here with other forum members. Trade safe.Ignored
Here's my perspective on GBPUSD.
This pair scored B+ overall on my system. For the week, I am having a bearish outlook on it. On the weekly time frame, the pair has maintained a bearish tone since March 2008 without breaking the market structure even though this was tested with a retracement between 2013 and 2014 but terminated at the 50.0 Fib in July 2014. Since then, the market on this pair has maintained its displacement southwards. All the technicals on the 4H time frame support a bearish disposition.
I may be wrong. Trade safe.
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