The series of price analysis from monthly basis to weekly have suggested that there has been establishment of Long trend. One of the best price to catch and enter this trend is after there has been correction around 1.65923. Wait for bullish candlestick pattern to complete as well as wait for economic releases. The confirming pattern is likely to come around...
The transition stage of UK 11 month can lead to a lot of challenges and is not certain that it can transit with success. Multiple time frame specially the monthly suggest a pattern for bearish.
The price to reach the point as marked at 7 Feb 2020 most likely, the daily candle stick again bounced from the area where the flag was made in the previous months. Various analysis as done suggests that throughout the forecast the price level; 1.30889 will obstruct the long. Additional position to be open after analyzing how the price reacts on this level.
The minimalist way of zoning the price is used as forth the long pattern is seen in 1D TF. Bounce from the utmost demand zone.
Using the method of leveling, this is the way path for GBPUSD today. The economic factor of GBP economic co-oping up can be valuable to this path. *Heads up for the news report of GBP (High Street Lending)
The basic use of Zone Trading, pre-existed trend was broken and during these cases likely to retest the zone around 0.69383. As market moves in pattern forming the pattern of Head and Shoulder if formed around this level is a strong confirmation for the short. And many more..
If the Brexit happens then high long potentiality. Lets hit at 1.31092 for long order.
The overall analysis suggests of shorting this pair. Plus supporting idea of short if this daily candle stick closes below 0.68476.
With provided key values and personal analysis.