Looking to enter a Buy/ Long position on GBPUSD between price level 1.1900 and 1.18200.
If price breaks below price level 1.18200 the set up is invalid.
GBPUSD is almost at a low set in 2020 Around the time C-19 was declared a pandemic. I'm looking for possible change in the trend from short to long around 1.16223 - 1.14093. If price levels breaks the 1.140093 level trade might be invalided and I will do another analysis for possible positions on the pair.
We are looking into taking a short position on USDJPY around the price level of 137.394, Stop loss will be placed just above the previous high at 137.808, and tp is left open as we are looking for the pair to retrace the liquidity void to price level 132.904
GBPJPY major trend is short. 163.900 level has a lot of liquidity for sell orders. if price breaks the 163.900 level the short trade will be invalidated. I will be entering the short position around the 163.500 price level.
On the EURUSD chart 4h and 1h, there is a inverse head and shoulder pattern formation. This signals a change in the current short trend, the price level couldn't break the level set on the head of the head and shoulder pattern.
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