As you can see, we had election rally, fundamental liquidity injection before the new year and now it looks like a good distribution.
So far last week, we also broke the market structure break. What does it mean?
I seek run on liquidity at 1,3 / 1,295 / 1,29 big figures.
How it can look during the week? Most idealistic it would look like the rally in the beginning week toward 1,31 and sell-off.
You should watch the 1,3 level. If there will be enough strength, it is very possible, that GBP will find there a bottom in the short term, so you can long there. If there will be S/R flip, you can short and target 1,29
IF
there will be a clear market structure break into bullish at 1,31500, then I am witching and will do swing long.
So far last week, we also broke the market structure break. What does it mean?
I seek run on liquidity at 1,3 / 1,295 / 1,29 big figures.
How it can look during the week? Most idealistic it would look like the rally in the beginning week toward 1,31 and sell-off.
You should watch the 1,3 level. If there will be enough strength, it is very possible, that GBP will find there a bottom in the short term, so you can long there. If there will be S/R flip, you can short and target 1,29
IF
there will be a clear market structure break into bullish at 1,31500, then I am witching and will do swing long.
Note
I do a daily observation of major currencies in forex and crypto. Do not miss any move, high-valued analysis or educational content.Telegram: t.me/ADA_Public
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Note
GBPUSD meanwhile everybody was about GbpUsd "bottom in" we had a different approach and we were true. GBP is in the distribution phase and we were looking at shorts. First days of the week GbpUsd had run on liquidity down to 1.29 as we have outlined, breakout and re-tested our key S/R level, where you could long up to our key resistance, where we were expecting sell-pressure ad also areas for shorts. I am very happy, this idea played out very very precisely. I look forward to next week.Note
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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.