GBPUSD: Anticipating Short-Term Bearish Reversal!
Greetings Traders!
Current Market Analysis:
At the moment, GBPUSD has been primarily bullish coming into this week. However, recent price action indicates that we might anticipate some bearish institutional order flow to meet minor targets before potentially continuing the bullish trend.
Key Observations:
Trading Strategy:
Conclusion:
By understanding the current bearish institutional order flow and leveraging key support and resistance levels, we can effectively anticipate and execute trades on GBPUSD. The observed market structure shift and the respect for the Balanced Price Range support a bearish outlook in the short term, guiding our strategy towards taking advantage of short opportunities while keeping an eye on the potential continuation of the bullish trend.
Happy Trading,
The_Architect
Current Market Analysis:
At the moment, GBPUSD has been primarily bullish coming into this week. However, recent price action indicates that we might anticipate some bearish institutional order flow to meet minor targets before potentially continuing the bullish trend.
Key Observations:
- Market Structure Shift: We have seen a market structure shift, suggesting a potential reversal. This bearish sentiment was further confirmed when the price respected the Balanced Price Range, leaving the Fair Value Gap above it as a runaway gap. This indicates that the price has no immediate need to move further into premium prices.
Trading Strategy:
- Entry Strategy: I am looking to see if the price retraces back into the H1 bearish order block. This will be my primary entry point. If the price does not retrace into the H1 bearish order block, I will seek other entry methods, provided the price gives me a confirmation to do so.
- Target Levels: The main target is the Daily Bullish Fair Value Gap, which is my draw on liquidity.
Conclusion:
By understanding the current bearish institutional order flow and leveraging key support and resistance levels, we can effectively anticipate and execute trades on GBPUSD. The observed market structure shift and the respect for the Balanced Price Range support a bearish outlook in the short term, guiding our strategy towards taking advantage of short opportunities while keeping an eye on the potential continuation of the bullish trend.
Happy Trading,
The_Architect
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.