North Korean tensions with the US still indicate for a weak Dollar. Some smaller US events on the economic calendar yesterday did not seem to do much to strengthen the Greenback.

Daily Chart

Market is sideways, price is bullish and currently at resistance (1.30500) With tension still rising with North Korea, I anticipate further dollar weakness therefore I'm looking to go long when price retraces to Monthly Pivot Point.

Source: MT4

H4 Chart

Market is far more bullish on this time frame, Price is bullish and Stochastic showing that this pair is overbought. With this pair being so bullish I have decided to go long at Monthly Pivot Point instead of Weekly Pivot point as I don't anticipate it to retrace so far back.

Source: MT4

H1 Chart

Market is bullish and price is also bullish, yet at resistance, All three time frames agree with my bias and I will hold position for the month

Source: MT4

One thought on “GBPUSD Technical Analysis (6 September 2017)”

  1. Hadyn S. says:

    I was setting up the same exact trade. Thanks for posting this. Your post are excellent!

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