GBPUSD possible distribution next week
We've been bullish with GU since mid-may. Now the price is reaching 1.27-1.28 area possibly forming a distribution structure.
Once we'll have reached that supply area, we'll be looking for SELL opportunities, but only after the price gives us signs for that (Break of Structure to the downside), pull back to the area and then entry.
However, if the price goes above our supply within the next few days, we'll stay bullish, with the outlook for BUY opportunities. Only time will tell.
Safe trading everyone!
Once we'll have reached that supply area, we'll be looking for SELL opportunities, but only after the price gives us signs for that (Break of Structure to the downside), pull back to the area and then entry.
However, if the price goes above our supply within the next few days, we'll stay bullish, with the outlook for BUY opportunities. Only time will tell.
Safe trading everyone!
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