Hello, Guys.
GBPUSD Is on a strong Supply zone in the monthly, and bulls haven't yet indicated any clear sign of taking on the league. For now we can still hold that bears are still in control.
On the weekly Time Frame a clear consecutive Lower high and lower is seen on the previous weeks. Having formed a lower high in the previous week, we expect bears to take control anytime soon to form a new Low.GU on the daily has shown a clear Break of Structure around the 1.2165 Price Level. This indicated that bears have full determination to remain dominant. Yesterday on Monday of 9th Aug 2022, the 4Hr OB Which was our first entry was mitigated and thus marking our first Entry.
A following Bear move left an inefficiency around the region and thus marking our new POI for a second possible entry.
On the other hand, UK Prime Minister’s (PM) race appears to pose bigger challenges to the British economy as Reuters mentioned, “Prime Minister Boris Johnson came under heavy criticism on Monday for allowing a political vacuum at the heart of his government to threaten an even deeper economic crisis in Britain before his successor takes office in September.” The reason could be linked to the UK PM Boris Johnson’s refusal of the new cost of living measures until the successor takes office.
Goodluck💪
GBPUSD Is on a strong Supply zone in the monthly, and bulls haven't yet indicated any clear sign of taking on the league. For now we can still hold that bears are still in control.
On the weekly Time Frame a clear consecutive Lower high and lower is seen on the previous weeks. Having formed a lower high in the previous week, we expect bears to take control anytime soon to form a new Low.GU on the daily has shown a clear Break of Structure around the 1.2165 Price Level. This indicated that bears have full determination to remain dominant. Yesterday on Monday of 9th Aug 2022, the 4Hr OB Which was our first entry was mitigated and thus marking our first Entry.
A following Bear move left an inefficiency around the region and thus marking our new POI for a second possible entry.
On the other hand, UK Prime Minister’s (PM) race appears to pose bigger challenges to the British economy as Reuters mentioned, “Prime Minister Boris Johnson came under heavy criticism on Monday for allowing a political vacuum at the heart of his government to threaten an even deeper economic crisis in Britain before his successor takes office in September.” The reason could be linked to the UK PM Boris Johnson’s refusal of the new cost of living measures until the successor takes office.
Goodluck💪
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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.