Thread: Week 26 Outlook at FxGump

Hello folks! I'm here to present my views for the upcoming week!!

These are the pairs that will be in focus this week, GBPUSD, GBPCHF and GBPCAD.

GBPUSD



Bearish divergence in OsMAWeekly trendline supporting GBPUSD has broken and we are looking for GBPUSD to drop to somewhere around 1.5800. Let's zoom into the smaller time frame to see whether there is any potential levels for us to go short.



Any throwback to the yellow zone is a short

Any throwback to the yellow zone is a safe short. Let us all be patient and wait for price to test this level before we do a short.

GBPCHF



Safe short when price retest yellow zoneLike the GBPUSD setup above, we will not short this pair until price reaches the yellow zone. One attribute most good traders posses is patience which both Gump and I had been working hard on. Do you have the patience to wait for the setup to happen too?

GBPCAD



Symmetrical Triangle Pattern?
Last week, one of our readers requested for us to cover this exotic pair so I decided to do an analysis on it coming to week 26. It seems like GBPCAD is consolidating into a symmetrical triangle pattern. This pattern also means that neither the bulls nor the bears is winning. Therefore, a potential trade is only possible when price breaks out of this pattern.

The overall trend of GBPCAD is still bearish therefore we are more bias towards a short in this pair. Yellow zone provides strong resistance to short just like the 2 other pairs above.

Final Comments

We always talk about stress-free trading ever since we started FxGump. We have modified our trading strategies from playing breakouts to trading divergence to now our fishing technique. At the end of the day, it still boils down to patience and discipline. Do you guys agree?

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