British Pound / U.S. DollarUpdated GBPUSD
After anticipating a potential drop, GBP continued its rise during the opening of the Asian session and covered the London high marked on my chart. In the previous idea, we opened a risky short position with a small stop loss, and unfortunately, the stop loss was reached.
Here is the analysis on a higher timeframe (4-hour). After the price impulse at the opening of the Asian session, a fair value gap was formed. There are three scenarios: either the asset's price will continue to increase from this gap, the price will absorb the gap and form a breaker block, or the gap will be ignored entirely, and the price will continue to rise with the target being the buy-side liquidity marked on my chart.
Here is the analysis on a higher timeframe (4-hour). After the price impulse at the opening of the Asian session, a fair value gap was formed. There are three scenarios: either the asset's price will continue to increase from this gap, the price will absorb the gap and form a breaker block, or the gap will be ignored entirely, and the price will continue to rise with the target being the buy-side liquidity marked on my chart.
Trade closed: target reached
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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.