Hello Dear Traders.
Below you may find my setup for possible GU long continuation.
1)GBPUSD recently touched and bounced from the monthly support of 1984 of approx. 1.035
2)BoE will rebound for the taxes issue, so this will impact on positive GBP buying interest.
3)At the 4H chart it seems that it respects the wave analysis and with green colour you can see possible break-retest path or wait for the primary elliot move to be actualised.
4)Fib level was respected this day.
5)USD is moving in a tremendous bullish trend and according to overall COT report of high difference between buyers & selleres we might approaching a short-term peak for
dollar which will change the buying interest to other currencies like GBP.
6)The formation is keeping as HL-HH struvture and the Daily Trend line is broken-possible trend change.
7)With green arrows I have depicted the possible buying areas according to my point of view.
Thank you and follow up with comments.
Good luck!!!
Below you may find my setup for possible GU long continuation.
1)GBPUSD recently touched and bounced from the monthly support of 1984 of approx. 1.035
2)BoE will rebound for the taxes issue, so this will impact on positive GBP buying interest.
3)At the 4H chart it seems that it respects the wave analysis and with green colour you can see possible break-retest path or wait for the primary elliot move to be actualised.
4)Fib level was respected this day.
5)USD is moving in a tremendous bullish trend and according to overall COT report of high difference between buyers & selleres we might approaching a short-term peak for
dollar which will change the buying interest to other currencies like GBP.
6)The formation is keeping as HL-HH struvture and the Daily Trend line is broken-possible trend change.
7)With green arrows I have depicted the possible buying areas according to my point of view.
Thank you and follow up with comments.
Good luck!!!
Trade closed manually
Closed it manually with a loss.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.