GBPUSD looks to have bounce off support area at 1.3200-1.3220. I'll be watching this pair and look to go long on lower timeframe should there be an opportunity.
Comment:
On weekly timeframe, we have a lovely pinbar that closed higher than its open price
Comment:
On H4, price has broke above descending trendline and also retested. Price is trading above 50EMA currently and this is key to maintaining a bullish bias for now. I'll be looking for momentum on lower timeframe to trigger a long position here where 200EMA will be the next target should we continue to climb higher. Similarly, 200EMA could line up together with 1.35 which proves a strong resistance. If price do gets there, let's watch for a break or rejection and trade the true momentum off that area.
Comment:
1.3320-1.3340 is a decent area to go long should we see some bullish momentum coming up in M15. Another possibility is H1 200EMA could act as dynamic support and price could head higher from there. Again, key thing here is momentum.
