GBP Weekly and Daily chartsAs per last Weekly report, expectation of higher prices back towards the Weekly highs.
Expectation that GBP would continue up towards 2.0149, but ideally the best set-up would be a reversal back down into the July 50% level on Tuesday and then use a lower Daily open confirmed with the 5-day 50% level to trade back towards the Weekly highs.
There is a breakout of the Weekly highs, therefore the expectation is higher prices, hopefully after a 2-day stall reversal downwards before it continues higher.
Note: if it continues higher without pulling back into the Weekly, I would look for a reversal back down into July's 50% level, using the Weekly highs as resistance, along with the intra-day 3-day filter.
Please refer to the Daily report...
- Daily Trading Set-ups & Analysis
