GBPUSD correction is over and looking for upside.
We predicted that short to medium to the upside but price found one last leg to the downside to liquidate longs that entered in April. We think moves to the downside is fairly capped and the price is ready to start its multi-week ascend.
BULL CASE
We will wait for more retrace to the downside to enter a long. For more conservative traders, they can wait for higher low to be formed on the 4H before entering for a long
BEAR CASE
If bears do find momentum to the downside, it will be one last wick out to stop out longs before the upward move continues.
BULL CASE
We will wait for more retrace to the downside to enter a long. For more conservative traders, they can wait for higher low to be formed on the 4H before entering for a long
BEAR CASE
If bears do find momentum to the downside, it will be one last wick out to stop out longs before the upward move continues.
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.
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.