This is my long term analysis for the upcoming week for GU.
○ 1 Month Timeframe
First when looking to the Monthly Timeframe we notice that we've Broken bearish and that we're in an overall bearish order flow.
We've almost mitigated a bearish order block but didn't and price started to fall.
We could see a retracement towards th 1Month TF Bearish Order Block before we see the movements downwards but it would be an extreme surprise.
○ 1 Week Timeframe
The Monthly Order Blocks' low lies above the Weekly high while in the meantime price has created a Choch to the downside on the weekly and has been retesting the with the CHOCH created Bearish Order Block for almost 100 Days now.
○ 1 Day Timeframe
On the daily timeframe the priceaction has been really unclear and choppy for the past 3 Months. although when having a good look we can notice that price broke above its highs 2 times creating a clear grab of liquidity and after it broke structure to the downside.
Fast forward price has retested the Order Block created with the bearish move and respected the structure completely.
○ 4 Hour and Lower Timeframes
When having a Look to the lower timeframes I notice that price has been broken bearish on the 2nd of Feb. (4Htf).
Price could possibly retrace back towards the order block that was created in that extreme zone of the price range.
That would mean that It would test a Key level of price where institutions are massively involved in the markets (1.27500)
When I have a look to the Hourly chart I see that price has a Bearish OB at the high of the range. price could possibly move towards thaat order block before moving down again.
Or Price could break this zone to make a bigger correction towards the 4Hourly Order Block (1.27500)
Before that'll happen I'd expect price to retrace downwards on the 15Mtf before the upwards move happens. this because price has swept Liquidity on this timeframe and created a Bullish Choch to the upside. I'd expect price to retrace towards one of the 2 created Order Block before the upward move comes into play.
if the problems in the UK economy continue to mount, a two-year decline towards 1.10 could begin.