Price Altitude: Middle Daily Trend: Down 4H Trend: Down
Price Analysis: Just like EURUSD, GBPUSD has weakened considerably against USD. In the process, demand zones have been removed and supply zones have been created.
Anticipated Move: Since price is hanging out at the 25% resistance with underlying 4H demand that has been touched @ 1.27256 and overlying supply at 1.28195, I anticipate chop before a retrace occurs into overlying 4h supply.
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.
Trade closed: target reached
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GBPUSD retraced right into the 4h Supply @ 1.28195 to fall lower. Targets reached.