GBPUSD - Reason for SELL
Updated
Friday 10/21, we saw price hitting support (4H - rejection at 1.11293) and went bullish hitting a 1H order block - around red line.
Assuming the price will pullback, we saw the price reacting to our golden zone twice creating the long wick/shadow (thus opening a sell trade at 1.13341).
Price can possibly hit 1.12336 or all the way to 1.11508 before going up or breaking downwards.
Assuming the price will pullback, we saw the price reacting to our golden zone twice creating the long wick/shadow (thus opening a sell trade at 1.13341).
Price can possibly hit 1.12336 or all the way to 1.11508 before going up or breaking downwards.
Note
Price did not retrace on the golden zone (weak bears).But we saw that price respected the support area around - 1.12763, marking this as low on fibs.
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.