GBPUSD continues to rise daily.
There is a 4-hour supply zone (sell position) above the current position, and a daily demand zone (buy position) below.
A rebound from the daily demand zone would result in another new high, and the week will end in a bull market.
Conversely, if the rebound fails even in the daily demand zone, the current high is likely to be point Y, the peak of the weekly or monthly correction process.
Therefore, it is judged that market action around the daily demand zone will be very important.
The dollar is likely to rebound next week. Therefore, it seems to be better to approach the buy in the short term.
good luck.
There is a 4-hour supply zone (sell position) above the current position, and a daily demand zone (buy position) below.
A rebound from the daily demand zone would result in another new high, and the week will end in a bull market.
Conversely, if the rebound fails even in the daily demand zone, the current high is likely to be point Y, the peak of the weekly or monthly correction process.
Therefore, it is judged that market action around the daily demand zone will be very important.
The dollar is likely to rebound next week. Therefore, it seems to be better to approach the buy in the short term.
good luck.
Trade active:
It has not yet reached the daily demand zone. Therefore, it is likely to continue declining until reaching the daily demand zone. The problem is that if the rebound fails in the daily demand zone, there is a high possibility that it will fall below the daily demand zone position because the weekly correction is in progress.