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Sunday, May 09, 2021

GBPUSD Analysis May 9, 2021

GBPUSD Analysis May 9, 2021

On the monthly timeframe we are retesting a level of resistance and last week moving to the upside.

snapshot
On the weekly timeframe we closed with a bullish engulfing candle last week breaking above the resistance level . I will look to see how price respects the 1.40000 level before targeting higher
snapshot
On the daily timeframe we can clearly see that price broke into an uptrend and could be heading to form a new higher high point. Iw ill only take longs ipon a retest of the 1.39650 level.
snapshot


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