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FXSentidice

Trade setup: GBPUSD reacting off from a supply zone

Short
British Pound / U.S. Dollar (EIGHTCAP:GBPUSD)  
FXSentidice Updated   
EIGHTCAP:GBPUSD   British Pound / U.S. Dollar
Trend Analysis
2
1
trendanalysis
The GBPUSD is reacting off from a weekly supply zone. With price action testing the open-low of the previous bullish candle, orange box, a daily candle close below this box could result in a potential short setup.
Comment:
With a bearish engulfing in place, I will be looking for a break of a micro uptrend on the 1h TF for a swing trade. The origin of the low of the micro uptrend should be at the close of bearish candle. If price fails to break below the uptrend then the trade idea is no longer valid.
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