GBPUSD 30min Analysis January 22nd, 2021
Price attempted to break above our supply zone of 1.3700 but ultimately failed.
Trade Scenario 1: Bearish - For us to go short we need to see price break below our key weekly level and the 30min 200MA. We will then wait for a retrace and strong rejection off the weekly around 1.3660. Enter on strong bearish setups.
Trade Scenario 2: Bullish - For us to go long we need to see price break above our supply zone of 1.3700. We will then wait for a retrace and for 1.3700 to flip as support. Enter on strong bullish setups.
Trade Scenario 1: Bearish - For us to go short we need to see price break below our key weekly level and the 30min 200MA. We will then wait for a retrace and strong rejection off the weekly around 1.3660. Enter on strong bearish setups.
Trade Scenario 2: Bullish - For us to go long we need to see price break above our supply zone of 1.3700. We will then wait for a retrace and for 1.3700 to flip as support. Enter on strong bullish setups.
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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.