GBPUSD 30min Analysis February 2nd, 2021
Price is currently consolidating around our key weekly level at 1.3666 after another strong rejection off our supply zone of 1.3740.
Trade Scenario 1: Bullish - For us to go long we need to see a strong rebound off our weekly level of 1.3666. We can enter aggressively on a bullish engulfing off the weekly or we can wait for a break and retest of 1.3700. First targeting our supply zone of 1.3740.
Trade Scenario 2: Bearish - For us to go short we need to see price break below our key weekly level. We will then wait for a retrace and for our key weekly to flip as resistance. Enter on strong bearish setups.
Trade Scenario 1: Bullish - For us to go long we need to see a strong rebound off our weekly level of 1.3666. We can enter aggressively on a bullish engulfing off the weekly or we can wait for a break and retest of 1.3700. First targeting our supply zone of 1.3740.
Trade Scenario 2: Bearish - For us to go short we need to see price break below our key weekly level. We will then wait for a retrace and for our key weekly to flip as resistance. Enter on strong bearish setups.
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.