The recent price action on GU has been slightly choppy. In today's trading session, I will remain neutral bias and pay attention to the 1.4000 resistance zone and the upper trendline. Personally, I am anticipating a Flag pattern to form (exhaustion sign). Two scenarios that I am looking at
1. If we get a continuation breaking the flag pattern, 1.4085 is the next resistance zone (Bullish)
2. If there's strong bearish rejection at the upper trendline coincides the 1.4000 minor resistance zone, that could send GU towards 1.3861 support zone or the bottom band (Bearish)
However, the higher timeframe picture remains bullish, avoid over-trading under the current market condition.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. If we get a continuation breaking the flag pattern, 1.4085 is the next resistance zone (Bullish)
2. If there's strong bearish rejection at the upper trendline coincides the 1.4000 minor resistance zone, that could send GU towards 1.3861 support zone or the bottom band (Bearish)
However, the higher timeframe picture remains bullish, avoid over-trading under the current market condition.
Trade safe.
Do follow my profile for daily fx forecast & educational content.