JICPT|GBPUSD retreated from supply zone with decreased volume!
Hello everyone. GBPUSD chart got my attention as it pulled back from upper boundary of the downtrend channel. I also noted that it lack the volume to pass the trouble zone where the anchored vwap was sitting above around 1.3740.
So, simply put, I'm interested in bearish setup at the current position. Where would buyers come in? In my opinion, buyers might be interested in the key level below around 1.3500. If the 1.35 got firmed violated, the next level is 1.34 where it got buying pressure last time around 61.8% fib retracement.
So, simply put, I'm interested in bearish setup at the current position. Where would buyers come in? In my opinion, buyers might be interested in the key level below around 1.3500. If the 1.35 got firmed violated, the next level is 1.34 where it got buying pressure last time around 61.8% fib retracement.
Note
DXY got support due to the geopolitical issues. 
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plan your trade and trade your plan
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.