23082023 - #GBPUSD
Let's review. Yesterday (tradingview.com/chart/GBPUSD/v9bJqccS-22082023-GBPUSD/) I was looking for upside in GU and EU, with 1.28/10 as strong resistance and for EU 1.0936. Market ended up going to 1.28 for GU and 1.0930 for EU, finding resistance before coming back down, with EU forming new lows. The 1.2724 level which I gave initially was good for another bounce. But what's for today?
I would say that price action for yesterday was neutral to slight bearish. Bearish because there was a rejection from a move higher and also market closed below the WBZ (slightly below DBZ). I would say neutral though because it did not make a lower low. But of course I need to consider the bearish EU too.
TBH I am not too sure about the directions for today. But I will say this. Above GU 1.2732 and EU 1.0844, be cautiously bullish for a move to GU 1.2760 and EU 1.0880-90; after which I will look at price action and other set ups to determine on a possible rejection then or a move higher.
We have a magnitude of impact news which could move GBPUSD thus will update again more in the group.
I would say that price action for yesterday was neutral to slight bearish. Bearish because there was a rejection from a move higher and also market closed below the WBZ (slightly below DBZ). I would say neutral though because it did not make a lower low. But of course I need to consider the bearish EU too.
TBH I am not too sure about the directions for today. But I will say this. Above GU 1.2732 and EU 1.0844, be cautiously bullish for a move to GU 1.2760 and EU 1.0880-90; after which I will look at price action and other set ups to determine on a possible rejection then or a move higher.
We have a magnitude of impact news which could move GBPUSD thus will update again more in the group.
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