Lateralized Channel in GBP / USD
Today when reviewing the graph of the GBP / USD pair I am filled with joy because the analysis I carried out was concrete, the price rose to the point of 1.3407 crossing its previous ceiling and then going down to its small support of 1.3316, as I cited in my previous post.
"We could take advantage of this to take action to buy after the breakout, then wait for it to get as close to its 1.3398 price, then we hope it doesn't break its resistance to quickly go short and get good profit pips."
Grafico GBP/USD temporalidad 1h. Fecha 30/11/2020.
Today we notice that the price has lateralized, it is in a channel that its upper price oscillates at 1,340 and the low at 1,329, it will only be a matter of time for the price to break either the resistance or the support to create what will be the new trend.
Grafico GBP/USD temporalidad 1h. Fecha 01/12/2020.
While waiting for this break in the round price of 1.3300 that has been very difficult to overcome, I think there is a possibility that it is bullish, noting the weakness that the dollar has been constantly having, we will have to be very attentive to the employment report of The United States, which may be affected by a possible increase in cases of covid 19 due to the Thanksgiving holidays.
As always, we must be very attentive to the market and all kinds of information that may affect this pair.