Weekly Overview : Range Trading inside descending channel :

Hello Traders ,

Analysing daily chart we can see that price has continued respecting descending channel pattern as per our last analysis , here we can also see that price has also retested bottom line of channel , hence we can assume that price may move higher for now to retest channel top ,

we can also notice that price is supported by horizontal support also.


Trading strategy for GBPUSD for this week.

We would like to buy near channel bottom and sell from bottom top till break out , In case break above channel we would like to buy from channel top which will continue acting as support level ,

As brexit negotiations are starting we might see bearish pressure adding up , and relief rallies on good news about negotiations..... be safe and take small risk on gbp this week.

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