I am publishing this post in order to be able to backtest and in turn sharpen my analysis, this is my perspective on GU for the next few days.
GBPUSD is forming a daily range which was confirmed with a bounce off the daily demand zone. Strong bullish support could rally price up to h4 key levels of 1.3010, 1.3110 and 1.3150, coinciding with fib levels 38%, 50%, and 61%.
The 89 EMA would land near the 38% fib level and the 61% fib at 1.3150 would coincide with a retest of a daily broken trend line support.
GBPUSD is forming a daily range which was confirmed with a bounce off the daily demand zone. Strong bullish support could rally price up to h4 key levels of 1.3010, 1.3110 and 1.3150, coinciding with fib levels 38%, 50%, and 61%.
The 89 EMA would land near the 38% fib level and the 61% fib at 1.3150 would coincide with a retest of a daily broken trend line support.
Trade closed: stop reached
Daily demand zone breached, trade closed, possible sell entry upon daily close below demand zone and pullback retest
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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.