GBP/USD bullish run still going?This week’s analysis for GU is centred around the current pro-trend momentum and where we could see potential entries to continue riding it.
To begin with, there’s a refined 3D supply zone located at a premium level which could cause a short-term bearish reaction. I’ll be monitoring this area for any possible short setups — but only with strong confirmation.
However, the overall structure remains predominantly bullish, as shown by a series of higher highs and higher lows, along with significant breaks of structure. The most relevant point of interest for a bullish continuation sits around the 1.34200 level, where a clean 9H demand zone resides. This is where I’ll be looking to enter long positions if price retraces to that area.
Confluences for GU Buys:
- Clear formation of higher highs and higher lows, confirming bullish structure
- Strong 9H demand zone that initiated the recent break of structure
- Liquidity above still yet to be cleared
- DXY remains bearish, supporting continued bullish momentum on GBP/USD
P.S. Don’t get too caught up chasing countertrend moves. The real edge lies in identifying the nearest POI that aligns with the overall trend and waiting for your setup to unfold there.
