GBPUSD buy trade idea 16 06 2021
BUY GBPUSD 1.4108
SL: 1.4078
TP1: 1.4128
TP2: 1.4148
TP3: 1.4168
Signal Analysis by LCMS Traders
Currency Pair: GBPUSD
BUY GBPUSD 1.4108
Timeframe: H1
Step 1 - Previous News: GBP: -, USD: Retail sales indicated a decline
Step 2 - Trend: Across, Counter Trend
Step 3 - Support/Resistance: Bouncing Off Support
Step 4 - Indicators
- Bollinger Bands: slightly out
- MACD: both up
- Stochastic: H4 heading up
- PSAR: bullish
Step 5 - Upcoming News: GBP: UK CPI y/y 1400hrs, USD: Housing data 2030hrs, Monetary policy decision tomorrow 0200hrs
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