GBPUSD Local S/R| Swing High| POC S/R| Bullish OB| Price Action
Evening Traders,
Today’s Analysis – GBPUSD- breaking Local S/R with an impulse, test of Bullish OB is probable,
Points to consider,
- Price Action Impulsive
- Bullish OB Support
- POC Support
- Local S/R Resistance
- RSI Bearish Control Zone
- Volume Declining
GBPUSD’s immediate price action is trading below key Local S/R, failure of a reclaim will allow us to have a bearish bias.
The Bullish OB is likely to be tested, holding this area is critical, failure will project lower bearish targets.
Price Action is currently being respected by the POC, a short term bounce into Local S/R for a bearish retest is probable.
The RSI is currently in its bearish control zone, remaining in these regions will project weakness in the market. Furthermore, the immediate volume is below average, indicative of an influx being probable when testing key trade locations.
Overall, in my opinion, GBPUSD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
Beginner’s luck often stifles growth. Losses and failure are good for you. Kahlin Gibran
Today’s Analysis – GBPUSD- breaking Local S/R with an impulse, test of Bullish OB is probable,
Points to consider,
- Price Action Impulsive
- Bullish OB Support
- POC Support
- Local S/R Resistance
- RSI Bearish Control Zone
- Volume Declining
GBPUSD’s immediate price action is trading below key Local S/R, failure of a reclaim will allow us to have a bearish bias.
The Bullish OB is likely to be tested, holding this area is critical, failure will project lower bearish targets.
Price Action is currently being respected by the POC, a short term bounce into Local S/R for a bearish retest is probable.
The RSI is currently in its bearish control zone, remaining in these regions will project weakness in the market. Furthermore, the immediate volume is below average, indicative of an influx being probable when testing key trade locations.
Overall, in my opinion, GBPUSD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
Beginner’s luck often stifles growth. Losses and failure are good for you. Kahlin Gibran