Similar to EURUSD, GBPUSD opened below PZ and a key level and sold off. I did call for a bounce at the next strong level at 1.2686 and there was a reaction but it eventually faltered and went down to 1.2624 next strong level before a 45 pips rally but still, it came down again back to the same 1.2624 level.
Strong sell yesterday and so price action is bearish, trend has turned down, thus look for downside today. That could be on the break of 1.2624 (now 1.2636). If not, I see a possible retracement to 1.2680/1.2686 - previous strong level, which would be a good level to go short from to target 1.2546 - next strong level below.
Strong sell yesterday and so price action is bearish, trend has turned down, thus look for downside today. That could be on the break of 1.2624 (now 1.2636). If not, I see a possible retracement to 1.2680/1.2686 - previous strong level, which would be a good level to go short from to target 1.2546 - next strong level below.
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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.