Not so wonderful trades for those who trade cable pair. it has been ranging in 1.5227 and 1.5090 since the beginning of these week. However, we may expect a breakout from this area. please NOTE the pair has made Triple TOP and Double BOTTOM.
Once of the strategy we might use is pending order on 1.5227 buy and 1.5090 sell. which ever the price hit first, the trend might be prevailing. We might expect this to occur during london session as many data from the euro area are released.
GBP/USD H1
GBP/USD H4
Bollinger band forming a “NECK” pattern, which we anticipate a breakout above the support and resistance area, might make a prevailing trend.
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Happy Trading
Analyst
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