GBPUSD 30min Analysis February 23rd, 2021
Price is currently consolidating in a box pattern and we are looking for a break and retest in either direction.
Trade Scenario 1: Bullish - For us to go long we want to see price break above 1.4090. We will then wait for a quick retest and enter on bullish setups off 1.4090. First target will be 1.4130.
Trade Scenario 2: Bearish - For us to go short we want to see price break below 1.4060. We will then wait for a quick retest and for 1.4060 to act as resistance. We will enter on strong bearish setups off this level, first targeting 1.4030
Trade Scenario 1: Bullish - For us to go long we want to see price break above 1.4090. We will then wait for a quick retest and enter on bullish setups off 1.4090. First target will be 1.4130.
Trade Scenario 2: Bearish - For us to go short we want to see price break below 1.4060. We will then wait for a quick retest and for 1.4060 to act as resistance. We will enter on strong bearish setups off this level, first targeting 1.4030
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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.