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Trading Idea - GBP/SEK, 05-12-2023
Trading Signal: GBPSEK
| Order | Buy |
| Direction | Range Bound |
| Pattern | Trading in flag pattern |
| Interval | 4 hours |
| Length (Candles) | 12 |
Idea Summary
The medium term GBPSEK price forecast is bullish. The GBPSEK price is retesting the Fibonacci 61.8 level and the support of a flag chart pattern under the 200-period moving average MA(200). Most likely the price will reverse and start rising while there is a likelihood it may continue declining and breach below Fibonacci 61.8 and support of the flag pattern.
Note:
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