I am expecting a long outcome from GU this week possibly to the 1.26000 target. I think this will fall bearish temporarily to consolidate and correct itself prior to the long movements and the bullish swing should continue that is shown on the hourly time frame. If the support level is surpassed around 1.22000, I will be expecting a bearish push to the downside as a plan B but overall seeking a long opportunity due to COVID restrictions lifted in the UK. So possibly, employees returning to work and the economy may see a rise over the next few weeks if the restrictions continue to be lifted.
Thanks for your analysis. I agree to some degree and believe we are still in a downward trend. I would not be looking to buy until 1.265 is reached. It's continuous shorting on peaks, as the markets movement and news continue to indicate another bearish "wave".