Hi traders, gbpusd made a pullback up, so i expect it now to make some correction before price will push higher to 1.37000 area to retest our supply zone and complete possible inverted H&S formation there. So short term buy is expected. If there wont be any correction I wont be taking any buys, and will focus on that sell from 1.37000 area.
Take a look at 4h macd and rsi when price was pushing towards supply zone, it was at overbought area and losing momentum, so i expect same thing when price will retest supply zone and complete H&S. Be patient
Take a look at 4h macd and rsi when price was pushing towards supply zone, it was at overbought area and losing momentum, so i expect same thing when price will retest supply zone and complete H&S. Be patient
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Price might as well drop and retest zone again, depends on dxy move. But gbp is showing that we will see one more small buy before reverse
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Price is pushing towards supply zone, and as you see we already have orvebought rsi and macd which is lossing momentum
Trade active
Price came to supply zone and it lost bullish momentum, im already in and im waiting for break of that trendline to add trade
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Finnaly some solid break down
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Gbpusd is forming ending diagonal, and we are having nice supply zone on the top, so i expect price to push lower soon
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Price breakdown nicely, and is now correcting. We might again see retest of zone
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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.