GBPUSD: Bullish market condition, longs in play
There has been a few changes in the GBPUSD since last week, the market was rejected from 1.5822 a previous important level, so I decided to move my long term level to that area. Here is what I got:
GBPUSD
Based on this analysis, the GBPUSD (pound-dollar) is in a bullish market condition and we should be looking for long trading opportunities.
My Trading Plan:
As long as the market continues to trade above 1.5911, I will be looking for long trading opportunities and will set all my TP orders below the next long term resistance level around 1.6156
All short trading opportunities will be ignored.
Trade Safe!
Raul Lopez
Tags: Forex majors, GBPUSD Analysis, pound, pound analysis
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Raul Lopez
I've been trading the markets for more than 14 years. All my trades are based on price action. Check out my Forex Trading Room. I can help you trade with better results.
