These are our two outlooks on GBPUSD
1) Bearing Continuation: Price falls outside of our indecision zone to the downside, retest the zone then continues the move to the downside.
For this outlook our entry would be the bottom of the zone around 1.27000
Take profit at 1.23000
Our SL will be set at half of the zone in the 1.28500 area
2) Bullish Reversal: If price finds support at the bottom of our 50% indecision zone around 1.28500 then we will wait for price to breakout the top of our zone, retest the zone before entering this trade. After the retest, we will be looking to enter
then continue the bullish move to the upside back to the next zone.
Entry at 1.30500
Take profit at the demand zone at 1.23000.
We have two outlooks on this pair because it is still inside of our zone and we are waiting for a clear directional move before entering the market. These are longer term trades to hold for the week.
Bullish move 329 pips
Bearish move around 400 pips
1) Bearing Continuation: Price falls outside of our indecision zone to the downside, retest the zone then continues the move to the downside.
For this outlook our entry would be the bottom of the zone around 1.27000
Take profit at 1.23000
Our SL will be set at half of the zone in the 1.28500 area
2) Bullish Reversal: If price finds support at the bottom of our 50% indecision zone around 1.28500 then we will wait for price to breakout the top of our zone, retest the zone before entering this trade. After the retest, we will be looking to enter
then continue the bullish move to the upside back to the next zone.
Entry at 1.30500
Take profit at the demand zone at 1.23000.
We have two outlooks on this pair because it is still inside of our zone and we are waiting for a clear directional move before entering the market. These are longer term trades to hold for the week.
Bullish move 329 pips
Bearish move around 400 pips