2019-11-11 • Updated
Recommendations:
SELL 1,297 SL 1,3025 TP1 1,286 TP2 1,278,
SELL 1,299 SL 1,3035 TP1 1,286 TP2 1,278.
On the GBP/USD daily chart, quotes are moving within the borders of the upward trading channel. A break of its lower border might lead to the return of the pound to the previous consolidation range of 1,277-1,286. In contrast, the update of the May high will allow the bulls to fulfill 161.8% target of the AB = CD pattern.
On the GBP/USD hourly chart, there is a transformation of the daughter "Shark" pattern into 5-0. If the bears manage to hold the resistances at 1.297 and 1.299, the subsequent breakout of the lower border of the upward trading channel may lead to the realization of parent "Shark" pattern.
Recommendations:
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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