GBPUSD makes a moderate recovery from Thursday's lows due to weakening Dollar Strength. However, we have not seen any major bullishness so far.
In fact, GBPUSD's movement has been quite subdued this week.
Let's look at this chart from the beginning of the week.
In this chart, you can see that I mentioned the 100D as a Potential Reversal Zone(PRZ) and price reversed exactly from the 100D EMA.
This area is very important. Unless price breaks this area strongly, we can't see any major bullishness.
On the other hand, if I see another Bearish candle near the 100D EMA , then I would definitely like to sell.
In fact, GBPUSD's movement has been quite subdued this week.
Let's look at this chart from the beginning of the week.
In this chart, you can see that I mentioned the 100D as a Potential Reversal Zone(PRZ) and price reversed exactly from the 100D EMA.
This area is very important. Unless price breaks this area strongly, we can't see any major bullishness.
On the other hand, if I see another Bearish candle near the 100D EMA , then I would definitely like to sell.
Note
GBPUSD drops 55 pips since I posted
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Related publications
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.