I also did not give a complete plan for GBPUSD yesterday but I was looking for a higher low to go long for a move higher. That was much wrong as GBPUSD sold down to new lows, before we see a recovery during the US session just above the strong level 1.26880 (which was my buy level).
Daily candle is a large range with long wicks in either direction. Price action can be said to be bearish and trend is down, so similar to EURUSD it should be a short but I see a sign of strength with the close above the level.
Overall, I will look for price to base above 1.27 for the long to target 1.2780.
1.2720 could be a resistance and thus could see a pullback ( also a level you want to use to go short from) but overall, I am looking for the move higher.
Daily candle is a large range with long wicks in either direction. Price action can be said to be bearish and trend is down, so similar to EURUSD it should be a short but I see a sign of strength with the close above the level.
Overall, I will look for price to base above 1.27 for the long to target 1.2780.
1.2720 could be a resistance and thus could see a pullback ( also a level you want to use to go short from) but overall, I am looking for the 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.