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TheTradersAvenue
Feb 5, 2023 11:29 AM

GBPUSD > Strong Demand Zone for A Buy!! Long

British Pound/U.S. DollarFXCM

Description

Analysis of #GBPUSD

Hi traders, today we will have a look at #GBPUSD


the GBPUSD here is trying to go down and test its very strong demand zone near a very strong key market level around 1.18000-1.18200

this is a very strong structure support zone where the market rallied 600 pips before or 5%, I expect the market to show a bullish reaction if it comes and tests the structure support zone.

if GBPUSD goes inside the support zone I will look for a bullish reaction on the lower time frame such as a bullish candle formation or the double bottom or maybe we will get a harmonic pattern to get in buy trade if the rewards to risk are favorable and if it meets the rules for entry


I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one

Thanks for your continued support!
Comments
MarsSignals
that was brilliant
FOREXN1
Thanks , very interesting
Williamforex
great idea
HAMED_AZ
Good job
Experticall
It seems very possible.
basictradingtv
Excellent analysis!
TheTradersAvenue
@basictradingtv, thanks man
JoeChampion
I agree on USD weakness, thanks!
TheTradersAvenue
@JoeChampion, glad you liked it
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