GBPUSD Bearish Shark Pattern completing higher
Market Outlook and Analysis (2020 WW07)
Currency Pair: GBPUSD
GBPUSD D1 Chart – Continuation Flag Formation
We could potentially be seeing a classical Bull Flag, a continuation pattern on the GBPUSD. The change in the UK Treasury heads is seen to be positive for the GBP as infrastructure spending in the UK is expected to grow under the new cabinet, hence easing the pressure on BOE to reduce interest rates to stimulate the economy.
The GBPUSD managed to hold on to most of the week’s gains, giving us an indication that the Bulls could continue its run in the coming week.
GBPUSD H4 Chart – Successful Harmonic Patterns everywhere
In this consolidation Flag mode, there were various Harmonic Patterns forming since last December. The one right in front of us is a Bearish Shark pattern completing higher at around the 1.3208 sell zone.
GBPUSD H1 Chart – Potential long above the recent highs
The charts are showing us that there could be a potential LONG trade if the price breaks above the recent Resistance levels, potentially bringing us to the completion of the H4 Bearish Shark Pattern.
Question…. Do you get the Monday blues each week? If you do, high chance you don’t really like your job. Why not take up trading more seriously and be less reliable on your main source of income.
We are having a 3hr workshop in Singapore on the 19thFebruary 2020 (7pm to 10.00pm). Calling out to those of you who are:
- Working adults who are jaded from your daily lives and looking for an alternative
- Traders who has been trading for over a year and have not achieve the results you desire
- Wanting to make a difference to their financial goals
Stop procrastinating, register HERE NOW and come and see how we trade the market. Bring along an open mind to think out of the box to be successful in trading.
Please share with your friends whom you think will benefit from this too. Join us, we are building a close knitted community of successful traders.