GBPUSD - POTENTIAL BUY
Hello,
We have a nice confluence on this yellow support. The downside movement seems also a bit overextended so we can have a little bit of bullish pressure.
We also have divergences on the M30 timeframes so the bearish pressure starts to slow down a little bit.
I will wait for a confirmation on this zone (break of a descending channel, break of structure...)
Be careful, since this is Monday morning, the market can do lots of fake moves.
We have a nice confluence on this yellow support. The downside movement seems also a bit overextended so we can have a little bit of bullish pressure.
We also have divergences on the M30 timeframes so the bearish pressure starts to slow down a little bit.
I will wait for a confirmation on this zone (break of a descending channel, break of structure...)
Be careful, since this is Monday morning, the market can do lots of fake moves.
Note
Be careful with this one, GBP seems to be seriously bearish for now at the london open... Wait for a clear confirmation. What I advise you, is to wait for market structure shift. In this case, I would wait for the M5 to break the previous M5 high to go long on this zone. If it breaks this zone, my scenario will be invalid and I will wait for a better opportunity.
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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.