I expect GBP/USD to continue its bullish momentum and push higher. Following the previous break of structure, I am looking for price to mitigate the 2-hour demand zone to maintain this upward trend. If price does not react from this level, I have also identified a 3-hour demand zone as a secondary point of interest.
If price reacts bullishly from either of these zones, my next selling opportunity will be at the refined 1-hour supply zone around 1.26600. Once price reaches this level, I will look for signs of distribution to confirm a potential short setup.
Confluences for GU Buys:
- For price to continue higher, it must mitigate a strong demand zone to gain momentum.
- Liquidity remains above, providing a natural target for price.
- The higher time frame trend is still bullish.
- Clean 2-hour, 3-hour, and 11-hour demand zones are in close proximity.
- DXY has been bearish, which aligns with this bullish GU outlook.
P.S. If price drops instead, I have an extreme discounted zone marked at the 11-hour demand zone at the bottom as a potential long entry.
If price reacts bullishly from either of these zones, my next selling opportunity will be at the refined 1-hour supply zone around 1.26600. Once price reaches this level, I will look for signs of distribution to confirm a potential short setup.
Confluences for GU Buys:
- For price to continue higher, it must mitigate a strong demand zone to gain momentum.
- Liquidity remains above, providing a natural target for price.
- The higher time frame trend is still bullish.
- Clean 2-hour, 3-hour, and 11-hour demand zones are in close proximity.
- DXY has been bearish, which aligns with this bullish GU outlook.
P.S. If price drops instead, I have an extreme discounted zone marked at the 11-hour demand zone at the bottom as a potential long entry.
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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.