I am publishing this post in order to be able to backtest and in turn sharpen my analysis, this is my perspective on GU for the next few days.
GBPUSD is forming a daily range which was confirmed with a bounce off the daily demand zone. Strong bullish support could rally price up to h4 key levels of 1.3010, 1.3110 and 1.3150, coinciding with fib levels 38%, 50%, and 61%.
The 89 EMA would land near the 38% fib level and the 61% fib at 1.3150 would coincide with a retest of a daily broken trend line support.
GBPUSD is forming a daily range which was confirmed with a bounce off the daily demand zone. Strong bullish support could rally price up to h4 key levels of 1.3010, 1.3110 and 1.3150, coinciding with fib levels 38%, 50%, and 61%.
The 89 EMA would land near the 38% fib level and the 61% fib at 1.3150 would coincide with a retest of a daily broken trend line support.
Trade closed: stop reached:
Daily demand zone breached, trade closed, possible sell entry upon daily close below demand zone and pullback retest