GBPUSD-Weekly Outlook For FX:GBPUSD By Stimichele – Todayuknews

0 1
Hello Traders, This week I expect a minor pullback from last weeks expansion. Relaxed week as there are not too many GBP/USD economic data reports, and there is a USD holiday on Monday. However, the economic reports USD have positive forecast for its reports and that would help GU move lower to my target. However on September 8th, BOE is have a monetary policy meeting hearing to talk about the economy of England and whether or not it is ready to cut back on stimulus which will be a bullish driving force for GBP and EUR is in a similar position. Target 1 in in correlation to a daily order block/consolidation area with lots of liquidity via sell stops and SL. There is a FVG on futures chart, breaker block, and OTE entry point based on the fibo 0.79 retracement point from the original accumulation area of last week. After that I expect a rise to the monthly target. From the 08/31 COT report, commercials have reduced long positions and added roughly 3500 short positions
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.