Yesterday, I was bearish GBPUSD (tradingview.com/chart/GBPUSD/9OEAvBms-GBPUSD-04122023/) but TBH, I was expecting more strength from GBPUSD; but it turned out to be rather weak, as given, it sold back to Friday's low and bottom of the BZ, before bouncing nicely up to about the 50%.
Price action is bearish but price is still within the BZ. Playing both direction is possible today. I would like to be long as long as yesterday's low (1.2610) holds, for a move to 1.2666 and 1.2680 before looking for short opportunities from higher. If not, a break below 1.2600 would be another scenario to look for shorts below the break. Overall, I am looking for a move higher.
Price action is bearish but price is still within the BZ. Playing both direction is possible today. I would like to be long as long as yesterday's low (1.2610) holds, for a move to 1.2666 and 1.2680 before looking for short opportunities from higher. If not, a break below 1.2600 would be another scenario to look for shorts below the break. Overall, I am looking for a move higher.
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Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
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.