GBPUSD 30min Analysis January 19th, 2021
Price is at our key structure zone, previous resistance zone, and 30min 200MA.
Trade Scenario 1: Bearish - For us to go short we want to see strong rejections off the 200MA and structure zone of 1.3620. We will look to enter on bearish engulfings, double tops, and other strong bearish setups.
Trade Scenario 2: Bullish - For us to go long we want to see price break above our structure zone and 200MA. We will then wait for a retrace and for 1.3620 to flip as support. Enter on strong bullish setups.
Trade Scenario 1: Bearish - For us to go short we want to see strong rejections off the 200MA and structure zone of 1.3620. We will look to enter on bearish engulfings, double tops, and other strong bearish setups.
Trade Scenario 2: Bullish - For us to go long we want to see price break above our structure zone and 200MA. We will then wait for a retrace and for 1.3620 to flip as support. Enter on strong bullish setups.