We're waiting for low risk buy position | 28 July 2021
28 July 2021, GBP/USD
Technical Obseveration:
Few days ago, GBPUSD rallied to the upperside and is now above the upper trendline, while the price remains above this trendline, I expect nothing but a possible momentum to the upperside, as it is now, I am waiting for low risk buy signals towards 1.3989 and may breakout much higher. On its way to the upperside, the key level to look for include 1.39046.If the price breaks and closes aboove these levels., then further momentum to the upperside. As it is right now, we are waiting for a pullback to the same level to pick a low risk buy position. This view can only be invalidated in case the price breaks below the same trendline.
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