Market made a nice move according to the plan given yesterday (tradingview.com/chart/GBPUSD/fK7nMFjA-04102023-GBPUSD/) as it hit the 1.2032 level and rallied over 150pips or so. There was a dip after the top for 50 pips or so which is rather significant but market recovered.
Price action is bullish but price is still below the BZ. Just a pullback or a trend reversal? I have seen instances where market reversed the next day (bullish price action vs below BZ). Will today be a day? Given the magnitude of the move down, and also bullish divergence on daily, I would like suggest a further up move. Look for PZ to hold for a move higher with 1.2194 then 1.2280 as the price target.
Price action is bullish but price is still below the BZ. Just a pullback or a trend reversal? I have seen instances where market reversed the next day (bullish price action vs below BZ). Will today be a day? Given the magnitude of the move down, and also bullish divergence on daily, I would like suggest a further up move. Look for PZ to hold for a move higher with 1.2194 then 1.2280 as the price target.
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.
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.