Similar to EURUSD, GBPUSD also sold down to BZ on Friday. I gave 2 levels to look for longs on Friday; the first was from the PZ which was no entry (as there was no bullish confirmation candle) while off the BZ, market found support, but drifted down lower. It is a valid entry and the trade is still valid.
Overall price action on weekly is bullish, indicating probable further upside this week. Daily price action is bearish but it sold to the BZ which offer a low risk entry to go long from. Thus for today, looking at BZ to hold for a move higher, targeting 1.2756 before a possible pullback, and possibly even breaking higher to 1.2814 by tomorrow.
Overall price action on weekly is bullish, indicating probable further upside this week. Daily price action is bearish but it sold to the BZ which offer a low risk entry to go long from. Thus for today, looking at BZ to hold for a move higher, targeting 1.2756 before a possible pullback, and possibly even breaking higher to 1.2814 by tomorrow.
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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.