GBPUSD – Bulls Are Still Winning

17 Apr - GBPUSD Weekly Forex Chart(Click on image for larger view)

Hi All,

Quick update on Cable. As mentioned over the weekend (see article), I was waiting for a confirmation of a double top – which did not happen. The pair was also testing a long term resistance level again and I was waiting for clues in the market to proceed.

 

 

17 Apr - GBPUSD Daily Forex Chart

(Click on image for larger view)

The signal to go long was on Tuesday when price gave us a long and strong low test pin bar while testing it’s near term support level. As I write this article now, price just broke a new high and it looks like there is more to go.

The Bulls are victorious. While this is not always the case, the idea is not to be right or wrong but, more importantly, to identify the winners and follow them.

Anyway, thanks for reading and, to those who celebrate Easter, have a good break and Happy Easter!

 

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