Seems GBPUSD is cleaning up some lower stops providing liquidity:
- We are bearish since yesterday and the day before's reversal
- This night's range 300% standard deviation matching up perfectly with Hourly:SR
- Bearish orderblock hit early into asian-londonopen session (70.5% OTE)
- We can see that there's a bullish orderblock waiting for us down at 500% standard deviation of the nightrange.
- If today's favorable to our shorts we can reach that 500% perfect match with this time the Bullish orderblock at 70.5/78.6 then giving us another high probability reversal swinging price back up
Note
We are moving up, perhaps in anticipation of the GBP news coming out today.Trade closed: target reached
News volatility added momentum extending potential downward target.Note
Didn't expect to see this move down into these levels, but looking back at it I may've missed some fundamental incorporation into the analysis. I didn't forget, but I ignored it. And that's not good.Price does show a decent bounce from the second bullish orderblock I projected earlier.
New analysis:
Note
With Fibs (perfect bearish confluence on 70.5%)High probability short IF price get's up there.
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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.