GBPUSD Daily:
• Price is stuck in an area of consolidation in between levels 1.2700 & 1.2622 for the past 8 days.
• Yesterday candle closed as a bullish inverted hammer at 1.2622 signalling possible bullish move to the top of range (1.2700) is expected.
• Overall move is still bearish for me to 1.2531 4hr support, however we need to break out of range.
GBPUSD 4hr:
• Although ascending trendline was broken and retested price couldn’t break below 1.2622 (out of the range) and rallied up to 1.2640.
• Waiting for a 4hr break and retest of 1.2640 before looking for long positions.
Order cancelled:
4hr held Strong and as stated price looks to be making its way down to overall target 1.2531