GBPUSD short term counter trend this week
**Monthly Chart**
GBPUSD monthly candle closed bullish for August. The next price target is around 1.3400 level (previous monthly IPA).
**Weekly Chart**
Last week, the candle closed as bearish as it reduced momentum near the imbalance level of the 28th Feb 2022 candle. This week I will examine this area for short trading opportunities if GBPUSD couldn’t break higher.
**Daily Chart**
I suspect GBPUSD to have one more push to the upside at least retest and sweep the newly formed liquidity before it reverses lower. This might be a short-term counter-trend as we are still in a bullish trend on higher time frames.
GBPUSD monthly candle closed bullish for August. The next price target is around 1.3400 level (previous monthly IPA).
**Weekly Chart**
Last week, the candle closed as bearish as it reduced momentum near the imbalance level of the 28th Feb 2022 candle. This week I will examine this area for short trading opportunities if GBPUSD couldn’t break higher.
**Daily Chart**
I suspect GBPUSD to have one more push to the upside at least retest and sweep the newly formed liquidity before it reverses lower. This might be a short-term counter-trend as we are still in a bullish trend on higher time frames.
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