GBPUSD - Old FVG Still Pays!
Updated
Studying the consequent encroachment of the daily fair value gap is where you are able to identify whether there is a stronger likelihood for daily highs to be targeted.
5 consecutive days of bearish price action for cable and you think it wouldn't be healthy for a minor relief rally to occur up to 1.31424?
Manipulation before distribution and right now, I feel that the accumulation has already taken place inside of the daily FVG with the manipulation next in line, first targeting the most immediate daily high which is 1.31341.
5 consecutive days of bearish price action for cable and you think it wouldn't be healthy for a minor relief rally to occur up to 1.31424?
Manipulation before distribution and right now, I feel that the accumulation has already taken place inside of the daily FVG with the manipulation next in line, first targeting the most immediate daily high which is 1.31341.
Note
Inside daily range yesterday with todays London session poaching daily lows.
Is this a set-up for a relief rally once 08:30am bell strikes?
1.31424 is in my scoped for short-term trading
Note
We have tagged the weekly lows as expected.
If dollar index continues to present risk off conditions, GBPUSD has a high chance of continuing the decline.
1.30508 next in the cards
Trade closed: target reached
1.30508 has been met!
Sitting on my hands for the remainder of the week.
Note
Weekly close
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