GBPUSD 60 Minute Chart Analysis

Screen Shot 2015-06-30 at 08.13.41

Hello traders welcome back good to be with you as we come to the end of the month. I picked this pair because it is a counter trend trade as the daily chart is bullish and the 1 hour is bearish. OK let us take a look at it GBPUSD- This is the 1 hour chart.This pair remains bullish on the daily and the current chart. We have placed a trend line on the chart and you can see that we are below the daily pivot on this candle so I would like to short this. My concern is this pair has been bullish for some time now and we have to be alert to data as this could just bounce and head back up. The other issue is that if you look left of the chart we have a lot of forex junk to deal with, this is not a wide open space as we would like. The issue continues to be Greece and every person in politics running there mouth and when they do the currency pairs are moving all over the place. Very hard to make a good trade entry just makes us have more risk and we sure do not want that. So i am hopeful that today we will settle dowm but I do not see that as Greece is not going to pay there debt to the IMF today. It is going to be a rocky day I would say.

Tags:, , ,