GBPUSD as per plan was a long for yesterday and it just opened at the key level, based and rallied for 90 pips; but it missed the key level before coming down on a double top. Daily candle is green with a long wick above; while price opened above the BZ (trend is up).
Overall, we see price on daily is in a range, and price is at the top of the range. Will we break higher? Similar to EURUSD, I had no strong views on the path of movement today.
I can only say, watch for price to react again at the strong level 1.2678/88; holding there would be a move to 1.2772 and possibly 1.2860 which is my mid term target.
If price goes up from here (1.2706) to 1.2772, I want to see a possible triple top and rejection off the strong level for a short down to 1.2688.
Overall, we see price on daily is in a range, and price is at the top of the range. Will we break higher? Similar to EURUSD, I had no strong views on the path of movement today.
I can only say, watch for price to react again at the strong level 1.2678/88; holding there would be a move to 1.2772 and possibly 1.2860 which is my mid term target.
If price goes up from here (1.2706) to 1.2772, I want to see a possible triple top and rejection off the strong level for a short down to 1.2688.
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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.