ANALYSIS: Good morning there. The GU market will, probably, change its direction this morning as the price has created a double bottom in the higher timeframes like H4 and H1. A bullish pin bar has formed in the H1, showing us the reason to go long. Note: If you are going long on this pair, you can aim for 50pips to the upside for the first take profit. First TP:1522. Second TP:1595. These levels are where the price could potentially reach and react.
Strategy: Break and Retest.
Reason For This Bullish Bias: the trendline has been broken and is currently being retested and rejected. We also have a confluence of the trendline and horizontal line supporting the price.
Strategy: Break and Retest.
Reason For This Bullish Bias: the trendline has been broken and is currently being retested and rejected. We also have a confluence of the trendline and horizontal line supporting the price.