GBPUSD - My Thoughts Heading Into Next Week

FX:GBPUSD   British Pound / U.S. Dollar
Scenario 1 - Shorts

If we dont break the resistance at 1.37334 I will look to trade the range GBPUSD has been in all last week, no point going int

Scenario 2 - Longs

I think this is more likely to happen, Thursday we saw price pull lower into the 1.356 order block (yellow area), and with that we took out most who were in around the 1.36 area... If we break the 1.37334 res cleanly then I'll be looking to buy on the retest of this level (arrows for 'scenario 2' indicate how I think price will move) - Taking profits above the weekly high of 1.376

Looking at the dollar index too, my bias is bearish (Clean rejection of the 91.2 level) - so yes, just to reiterate scenario 2 is my personal favourite.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.