Weekly outlook for GBPUSDLooking for two scenarios to play out here on GBPUSD this week. I do like the supply area marked by the risk entry. The only reason I see this failing is all the liquidity above it. I would need to see a confirmation at this zone for LTF sells. If price blows through this zone I see it filling the imbalances above and mitigating buy-to-sell orders. I Will look for shorts in the highlighted low-risk entry zone.
Can easily take buys up to targets as well. Will update as things get moving.
Imbalances
Xau/UsdGold has created some imbalances in the market that needs to be filled. Overtime it has also created a trend line which the market has respected allowed retail traders to be setting up for a short. The market will push to the upside to fill those imbalances while hitting retail traders stop-loss and creating more liquidity as well as more imbalances before it start to sell again.
Potential XAUUSD Trade IdeaLooking at Gold on the monthly chart, I found an imbalance that has not been filled yet. When I dropped down to the weekly, a bearish order block was also found. I think that gold will go up and retest the OB before returning to fill the imbalance then going back up to fill more orders at the OB.