Technical Confluences for Trade: - Stochastics are in Oversold Conditions on H1 & H4 time-frame - Price is currently at a 78.6% Retracement level from Previous Low-High - Price action should bounce between both Supply-Demand Zones - Price is entering a Demand Zone (Yellow Zone) - Aiming for the next Supply Zone (Blue Zone) at a 61.8% Fibo retracement & resistance...
GBPUSD MARKET OUTLOOK 4H broke uptrend structure. 1H retracing into last Bullish candle 15M entry within fib area & point of interest
Yesterday, I expected price to react at 1,64673 price level. However, momentum was yesterday very strong. At the moment we are at another around 1,65763. TDI is exhausted and market is overbought + another strong area. Let's wait for candles confirmation and price action.
This is how I see the market. GBPCAD is approaching strong resistance zone, I am waiting for confirmation candle at higher timeframe and situation at TDI and stochastic.
EURNZD is reaching a weekly demand zone and has a confirmation bullish pin off of the 1 hr time frame.
GBPCHF is coming off of an Elliot Wave and consolidating with slow upward trend toward the 61% level just passing the 50% level. Long term 23% levels will be attained on the monthly chart within the next year or two. Buy market execution on the GBPCHF.