British Pound / U.S. DollarUpdated GBPUSD
Monthly
-Pound reach all time low $1.1940 back in Sept 2019, last time at this level was October 2016.
-If current momentum continue price push higher, this double bottom will probably be valid & solid.
-Now price has trending upward of 700+ pips and reach M1 supply zone.
Weekly
-W1 supply zone coincide with M1 supply zone.
Daily
-D1 supply zone also coincide with W1 & M1 supply zone.
-Supply zone is now tested basically short setup is prefer, to identify LTF supply & demand zone.
-For now, prefer price to consolidate a while on current level before slowly grinding back lower(healthier/stronger uptrend).
-Price could trend higher easily in the future.
-Pound reach all time low $1.1940 back in Sept 2019, last time at this level was October 2016.
-If current momentum continue price push higher, this double bottom will probably be valid & solid.
-Now price has trending upward of 700+ pips and reach M1 supply zone.
Weekly
-W1 supply zone coincide with M1 supply zone.
Daily
-D1 supply zone also coincide with W1 & M1 supply zone.
-Supply zone is now tested basically short setup is prefer, to identify LTF supply & demand zone.
-For now, prefer price to consolidate a while on current level before slowly grinding back lower(healthier/stronger uptrend).
-Price could trend higher easily in the future.
Note
-HTF supply zone was engulf, on technical side it is bullish.
-But price has been sensitive to Brexit news, reckon to stay put for now.
Note
Weekly
-Price has come to weekly supply, shall look for short setup but will actually prefer wait & see since Brexit news still all over the place.
Note
-A nicely long opportunity at M15, but sadly miss the chance.
Note
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.