GBPUSD makes moderate recovery, but unlikely to be Bullish
GBPUSD makes a moderate recovery from Thursday's lows due to weakening Dollar Strength. However, we have not seen any major bullishness so far.
In fact, GBPUSD's movement has been quite subdued this week.
Let's look at this chart from the beginning of the week.
In this chart, you can see that I mentioned the 100D as a Potential Reversal Zone(PRZ) and price reversed exactly from the 100D EMA.
This area is very important. Unless price breaks this area strongly, we can't see any major bullishness.
On the other hand, if I see another Bearish candle near the 100D EMA , then I would definitely like to sell.
In fact, GBPUSD's movement has been quite subdued this week.
Let's look at this chart from the beginning of the week.
In this chart, you can see that I mentioned the 100D as a Potential Reversal Zone(PRZ) and price reversed exactly from the 100D EMA.
This area is very important. Unless price breaks this area strongly, we can't see any major bullishness.
On the other hand, if I see another Bearish candle near the 100D EMA , then I would definitely like to sell.
Comment:
GBPUSD drops 55 pips since I posted
