GBPUSD interest rates with bullish momentum
Vasl Capital
GBPUSD·
Jun 22 2023
Stop Loss -0.41%
Holding time 5d9hr
1.27115
Entry price
1.26593
Stop loss price
GBPUSD is in a bullish momentum, with a higher high and higher low structure, forming a bullish trend. GBP interest rates are about to be release. We are anticipating the support level to be touched at the price of 1.2715. Prices may form a wick at the support level and then continue moving up.
There is only the descending trendline in formation, which would induce a breakout buy once the market beraks out of it.
There is no retracement in this scenario.
EMA 50 is slanting and below the price action. We may see a retest at the support level once the market drops down. This will form a double confluence.
RSI is at 56. It needs to be at the neutralized level of 50 in order to align with the technical parameters.
CONCLUSION: BULLISH