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GBPUSD makes moderate recovery, but unlikely to be Bullish

FX:GBPUSD   British Pound / U.S. Dollar
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.
Comment: GBPUSD drops 55 pips since I posted

Comments

great review, one question sir, you think maybe now it's a good time for another entry(sell)?
+2 Reply
appreciate it. great review!
+1 Reply
TraderAvDM ProjectSyndicate
@ProjectSyndicate, Thanks mate
Reply
Been watching this play out this week. Great analysis!
+1 Reply
TraderAvDM forekast
@forekast, Glad that you like it
Reply
Great staff
Reply
Agreed
Reply
Great Great Great
Reply
Thanks
Reply
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