Market Structure & Key Zones:
Current Price: 1.26217
Daily Supply Zone: 1.26744 – 1.26252 (Strong Resistance)
Higher Timeframe Order Block (HOTW): 1.26744
Lower Timeframe Order Block (LOTW): 1.26252
Key Support Zone: Around 1.25500 (Recent Liquidity Sweep)
Key Observations:
1. Break of Structure (BoS) Confirmed:
Multiple BoS events indicate a bullish shift in market structure.
Price has been making higher highs and higher lows, showing strength.
2. Liquidity Sweep & Trendline Support:
A previous liquidity grab below 1.25500 has fueled bullish momentum.
The ascending trendline suggests continued support for higher prices.
3. Possible Bullish Scenario:
Price might retest the LOTW zone (1.26252) before a push higher.
If buyers hold this level, expect a move toward the HOTW level (1.26744).
A breakout above 1.26744 could see GBP/USD extending towards 1.2700+.
4. Bearish Rejection Scenario:
If price fails to hold above 1.26252, it may retest the liquidity sweep zone near 1.25500.
A deeper drop below this level could shift sentiment bearish.
Final Thoughts:
Bullish Bias: As long as price holds above 1.26252, expect a move toward 1.26744.
Breakout Watch: A confirmed close above 1.26744 could open the door for higher prices.
Invalidation Level: A drop below 1.25500 would challenge the bullish outlook.
Current Price: 1.26217
Daily Supply Zone: 1.26744 – 1.26252 (Strong Resistance)
Higher Timeframe Order Block (HOTW): 1.26744
Lower Timeframe Order Block (LOTW): 1.26252
Key Support Zone: Around 1.25500 (Recent Liquidity Sweep)
Key Observations:
1. Break of Structure (BoS) Confirmed:
Multiple BoS events indicate a bullish shift in market structure.
Price has been making higher highs and higher lows, showing strength.
2. Liquidity Sweep & Trendline Support:
A previous liquidity grab below 1.25500 has fueled bullish momentum.
The ascending trendline suggests continued support for higher prices.
3. Possible Bullish Scenario:
Price might retest the LOTW zone (1.26252) before a push higher.
If buyers hold this level, expect a move toward the HOTW level (1.26744).
A breakout above 1.26744 could see GBP/USD extending towards 1.2700+.
4. Bearish Rejection Scenario:
If price fails to hold above 1.26252, it may retest the liquidity sweep zone near 1.25500.
A deeper drop below this level could shift sentiment bearish.
Final Thoughts:
Bullish Bias: As long as price holds above 1.26252, expect a move toward 1.26744.
Breakout Watch: A confirmed close above 1.26744 could open the door for higher prices.
Invalidation Level: A drop below 1.25500 would challenge the bullish outlook.
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.
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.