Price is falling towards weekly support line which gives the opportunity from point B to go long for a range retracement. The risk of this trade could be the price break much below the support line. Before entering trade, confirmation of the level approx 94.07 is needed.
I hope you had the chance to review my previous analysis of GBPUSD pair earlier in June. This is a short update of my forecast.
Price is retracing as expected but there is a level ahead at 1,5534 which may possibly slow down the movement or even turn the price around.
I am a beginner trader and a new member of tradingview community. This is my first trading idea sharing and should not be used as a trading advice.
This is a simple technical analysis of the market based on the wave movement (not Elliot) taking into concideration trend and ranging conditions. Vertical lines are ...