Chances on GBPUSD?What is SnR? SnR = Support & Resistance
I'm expecting GU will drop for a while once it has entered the supply zone and making a short retracement to take another demand zone below. If price managed to break the demand zone, you either can look for another short and make another demand zone as your take profits zone. The rules of SnR is simple, if price making a breakout, wait for pullback and confirmation before entering.
Look confirmation on a lower timeframe, I normally looking for ENGULFING CANDLESTICKS or REJECTION CANDLESTICKS on M15 & M30.
Here some tip, use higher timeframe to know the direction of the market. With multi-timeframe analysis, you'll know the direction of the market, you'll know where to control and you'll know where and when to enter the market.
Good luck!
