I'm thinking GBPUSD is bullish during the overlap today.
It's been doing the same thing all week, it made a new low during UK but looks like it is reversing, I would not be surprised if it was another grab of liquidity and the banks wanted to buy.
With NFP approaching I think the market may be more range like today, this TP is a little bit of a stretch in my opinion,
But you can always adjust your take profit mid trade (if your rules allow it)
I will post a 5m or 1m analysis below with more detail.
It's been doing the same thing all week, it made a new low during UK but looks like it is reversing, I would not be surprised if it was another grab of liquidity and the banks wanted to buy.
With NFP approaching I think the market may be more range like today, this TP is a little bit of a stretch in my opinion,
But you can always adjust your take profit mid trade (if your rules allow it)
I will post a 5m or 1m analysis below with more detail.
Note
Void Idea, No entry taken, price should have held above 1.2962 for idea to work
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Your next setup is waiting—Subscribe for access to my weekly outlooks.
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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.