FX:GBPUSD British Pound/U.S. Dollar
After yesterday data market sharply move down the price to 1.6300. At this level is strong demand confluence consist of a few pieces of Price Action (Demand Zone + S/R Line + Fibo (1.382%) + Round Numbers (1.6300)). Such a strong confluence should run the demand but it will take a few D1 or H4. We should also remember - Demand Zone is between 1.6220/1.6300 = 80 pips. Therefore we should search for our long positions rather at middle or bottom zone (at Lower TF - M15 or H1).
Hey Virg, Don't see too many using "FTR", ''FL, 'S/R' and 'Eng in their jargon - RTM'r? :) I see the DP on the SR just about the small FL on the 15M - price seem to FO to it after breaking the tops. It also looks like the DX may have some upside work, still. But I do like your projection :)