GBPUSD PRE-MARKET ANALYSIS 12 APRIL, 2021
Updated
OVERALL TREND- BULLISH ON THE DAILY (OVER 200EMA) and at a corrective retracement of a key support structure level.
Again looking for long setups based on key support levels, looking to break into higher highs with a potential bounce retest of a major key support level at 1.380 and 1.380
Otherwise we have a key support level between 1.367 and 1.368 that price may retest for a 3rd time.
Depending on how the price moves, we can look for entry opportunities on the 1H TF.
But overall, looking for long setup trades.
Again looking for long setups based on key support levels, looking to break into higher highs with a potential bounce retest of a major key support level at 1.380 and 1.380
Otherwise we have a key support level between 1.367 and 1.368 that price may retest for a 3rd time.
Depending on how the price moves, we can look for entry opportunities on the 1H TF.
But overall, looking for long setup trades.
Trade closed: target reached
Price hit our first TP, looking for slight rejections similar to what price has recently made and looking to continue that bullish move. 40 pips secured and looking to hit TP2
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