Similar to EURUSD, yesterday the PZ held the upmove and market came down nicely to the level below (tradingview.com/chart/EURUSD/i5rdKgcA-EURUSD-06122023/). And as per what I wrote for EURUSD, GBPUSD also had many days of red. Will we see a green?
Overall price action is still bearish and trend is down so expect further down until we get a daily close above 1.2600. If market is do give a reversal candle, IMO, it will go lower and reverse sharply.
Will watch 1.2536 for a possible reaction to go long, but this is only as a counter trend trade, stay nimble. Else would be to patiently wait for 1.2590 to trade and go short for a move lower. Next strong support below would be 1.2484.
Overall price action is still bearish and trend is down so expect further down until we get a daily close above 1.2600. If market is do give a reversal candle, IMO, it will go lower and reverse sharply.
Will watch 1.2536 for a possible reaction to go long, but this is only as a counter trend trade, stay nimble. Else would be to patiently wait for 1.2590 to trade and go short for a move lower. Next strong support below would be 1.2484.
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.