GBPUSD HERE COMES THE BEARS!!!!Finally! Things are lining up to see some bearish action! GU has just made the high of the week. I'm watching the order flow and can see the momentum change. The Delta has been negative on every Hour candle for the last 2 weeks. The DXY is also in a critical decision phase and area. We have DXY News coming up for NY session in 3 hours. According to volume distribution alone price needs to return to value area at least so we will move our stops and ride this one down as far as we can.
Nightnighttrader
GBPUSD making a decisionlast week going into this week I have been looking at and observing so much more information so I didn't get to get this idea in before it happened as I wanted to see things play out to support my bias more. Im expecting for GU to turn bearish. The market is fairly balanced out right now and price returned to a Previous Point of control on the chart. It rejected from the area and as NY session started this morning more sell pressure came into play. This is a area that price can go either direction so if it continues bullish I would not be surprised. I feel this was a good entry and have already moved the stop to break even. Will continue to monitor for further plays to the down side. Just need more evidence that it wants to go there. 1.23129 is a POC for this area. So if I'm right I expect it to hold below this point going forward for todays session.