GBPUSD is one of the currency pairs I mostly track & trade.
Bias: Bullish
There was a huge drop in price not long ago, and now it's heading back up in a "V" formation. Price had broke a very significant area when it was declining so I would take that as a precursor for what can potentially come in the near future.
Confluence (3 or more):
1. P.A. is within a continuation HTFZ. Bull's favor.
2. Previous Ledge ($1.2359) was breached & broken. Bull's favor.
3. P.A. is printing HHs & HLs from a bullish Order Block.
A B.A.R. of the $1.2417 level is what I'll be looking for in order to execute long positions, but always stay flexible. We shall see.
Bias: Bullish
There was a huge drop in price not long ago, and now it's heading back up in a "V" formation. Price had broke a very significant area when it was declining so I would take that as a precursor for what can potentially come in the near future.
Confluence (3 or more):
1. P.A. is within a continuation HTFZ. Bull's favor.
2. Previous Ledge ($1.2359) was breached & broken. Bull's favor.
3. P.A. is printing HHs & HLs from a bullish Order Block.
A B.A.R. of the $1.2417 level is what I'll be looking for in order to execute long positions, but always stay flexible. We shall see.
Trade closed: target reached:
Done deal.