GBP Weekly Bias
Updated
After the Big Drop and Breaking the Range to the downside, We managed to Reclaim the range once again.
GBP met the mid range and struggled to move higher.
After mid range resistance and as you see with the help of the small swings we have market structure shift to the downside.
I expect more downside until we meet a reasonable support near the range low again, so we can keep the upside move towards the range high.
I will Consider Every Short Time Frame Breaks to upside as Fake and every Breaks to Downside as Legit with Reasonable Stop Loss and wide TP.
GBP met the mid range and struggled to move higher.
After mid range resistance and as you see with the help of the small swings we have market structure shift to the downside.
I expect more downside until we meet a reasonable support near the range low again, so we can keep the upside move towards the range high.
I will Consider Every Short Time Frame Breaks to upside as Fake and every Breaks to Downside as Legit with Reasonable Stop Loss and wide TP.
Note
I Expect the Downside will Continue until October.See the other Analyze about October's "Risk on" Seasonal Tendency.
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.