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HKGan
Oct 13, 2019 1:51 PM

GBPUSD 

British Pound/U.S. DollarFXCM

Description

Monthly
-Pound reach all time low $1.1940 back in Sept 2019, last time at this level was October 2016.
-If current momentum continue price push higher, this double bottom will probably be valid & solid.
-Now price has trending upward of 700+ pips and reach M1 supply zone.

Weekly
-W1 supply zone coincide with M1 supply zone.

Daily
-D1 supply zone also coincide with W1 & M1 supply zone.
-Supply zone is now tested basically short setup is prefer, to identify LTF supply & demand zone.
-For now, prefer price to consolidate a while on current level before slowly grinding back lower(healthier/stronger uptrend).
-Price could trend higher easily in the future.

Comment



-HTF supply zone was engulf, on technical side it is bullish.
-But price has been sensitive to Brexit news, reckon to stay put for now.

Comment



Weekly
-Price has come to weekly supply, shall look for short setup but will actually prefer wait & see since Brexit news still all over the place.

Comment



-A nicely long opportunity at M15, but sadly miss the chance.

Comment

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