GBP/USD Inside Bar Breakout

25 พ.ค. 2017

Based on the analysis the although the Pound has gain strength in the past few weeks, I believe it was all part of a major retracement that currently hit its peak. Based on the terrorist attack happened this week I believe the pound has lost the momentum to carrying on the bullish trend line hence why the bearish inside bar formation in the daily chart. This signifies the market is about breakout. Based on the position of the signal (key level), the overall trend, and the current situation of the pound I believe its a great opportunity to Short the GBP.