GBPUSD Support Zone| 200 WMA| Weekly S/R| Price Action
Evening Traders,
Today’s analysis – GBPUSD- trading above key support with multiple technical confluences,
Points to consider,
- Price Action Impulsive
- Local S/R Support
( 200 WMA & POC Confluence)
- Weekly S/R objective
- Oscillators Bullish Control
GBPUSD’s immediate price action is impulsive above Local S/R, a back test of this level is likely to hold as it is in confluence with the 200 WMA and POC.
The Weekly S/R is current objective, clearing this level will increase the probability of trend continuation.
Both oscillators are in bullish control zones, remaining in these levels will indicate strength in the market.
Overall, in my opinion, GBPUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
. If winning trades give you a buzz, you’re conditioning your mind to drool in anticipation of its next fix. And when it doesn’t happen, it’ll upset your expectations. If thrill naturally arises (which it will), feel it as it is, but then don’t cling to it.
Today’s analysis – GBPUSD- trading above key support with multiple technical confluences,
Points to consider,
- Price Action Impulsive
- Local S/R Support
( 200 WMA & POC Confluence)
- Weekly S/R objective
- Oscillators Bullish Control
GBPUSD’s immediate price action is impulsive above Local S/R, a back test of this level is likely to hold as it is in confluence with the 200 WMA and POC.
The Weekly S/R is current objective, clearing this level will increase the probability of trend continuation.
Both oscillators are in bullish control zones, remaining in these levels will indicate strength in the market.
Overall, in my opinion, GBPUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
. If winning trades give you a buzz, you’re conditioning your mind to drool in anticipation of its next fix. And when it doesn’t happen, it’ll upset your expectations. If thrill naturally arises (which it will), feel it as it is, but then don’t cling to it.