BTC on Bullish Market
June 10, 2020
USDMXN Breakout Confirmed
June 11, 2020
GBPMXN PRICE CHART – GBPMXN DAILY
The pair GBPMXN has broken a resistance at $27.7379 which can now be considered a breakout, I anticipate the price to continue climbing perhaps all the way up to 29.72 where we can find the next resistance level, although I would not place a take profit all the way to 29.72, remember that we like to set those Take Profit Levels at 80% of the total reach of the price to be able to close the position early and secure some profits.
Bollinger Bands are closing, we do not expect a lot of volatility in this particular pair since the price could bounce sideways for a few periods before continuing its uptrend, RSI is at 46% we expect this number to rise as the price goes up, which is a good indication that the markets have identified this breakout.
This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.
