If gbp manages to retrace up to the purple area, I would look for a short and aim towards a Last Weeks Low. Due to GBP GDP Growth Rate QoQ 3rd Est (Q2), GDP Growth Rate YoY 3rd Est (Q2), I expect it will reach this low today. Purely Price action analysis.
If you saw my last post, you would have made around 50-70 pips, I'm sorry I got the news mixed up, that still didn't affect my analysis. I believe the price will continue to drop to the purple area. If this happens, watch closely and see how the candles react in this area. This could be a great opportunity to go long. Purely based on price action.
Chart is ugly for a reason, to make people actually read the description. I mainly look at price action and using fib for entry points. Looking at DXY we can see its clearly going up, DXY is now using 94.41 as support which was a daily low, the main key points for me in DXY is 94.83, 95.19, 95.41 and 95.92. If we assume from today we keep clearing each point in...