GBPUSD Analysis / 3nd Pushed Down - Static Support / Daily - H1
Broad Bear Channel in daily time frame. So bears get short and bulls get long as scalps. Now we have 3nd pushed down of this channel, also price arrives at static support.
So 3nd pushed down + Static Support = Waiting for Bulls.
If bulls come target will be:
Daily Bear Trendline or Daily Bearish Orderblock
In H1 again bearish channel and bear trend. Look at the bear trend. We notice that we have so many bars below 20 EMA without any deep correction.
Losing momentum is clear and it's a sign of bulls buying. Finally bulls got out of bear channel and if you want major trend reversal, wait for trend extreme to be tested, then look for buy setups.
Consolidation above 20 EMA also is good sign for buyers.
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
So 3nd pushed down + Static Support = Waiting for Bulls.
If bulls come target will be:
Daily Bear Trendline or Daily Bearish Orderblock
In H1 again bearish channel and bear trend. Look at the bear trend. We notice that we have so many bars below 20 EMA without any deep correction.
Losing momentum is clear and it's a sign of bulls buying. Finally bulls got out of bear channel and if you want major trend reversal, wait for trend extreme to be tested, then look for buy setups.
Consolidation above 20 EMA also is good sign for buyers.
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
Comment:
Trend extreme get tested in H1 timeframe, now I expect higher prices !