Next major direction of price is not certain yet, let's wait to see how price take out sellside liquidity either to go further short or watch for a reversal
My view on GBPUSD
First, on the daily timeframe I identified a Daily level of structure (DLS) , I noticed that market is In a range after an uptrend.
Then, on the 4H there's also an emerging uptrend which is currently reacting around the dark rectangle level, a break, retest And continuation will absolutely confirm a move to the upside, we should expect...
High probability to go SHORT, first there is a bollinger squeeze which usually lead to a strong breakout and if you look closely you will see a recent lower highs which is telling us buyers are losing power and sellers are hitting the market..... sell break out with reasonable risk management
As you can see, price is approaching a major support on 4H which is also a strong support on the daily time... so guys you look for entry and tp dont forget to set your sl
The chart explains itself, look to go long if price break above the recent high ( marked with short horizontal line) or go short after price rejection from current structure area.....high probability on short because very soon on 4H stochastic moving average will cross and begin its journey downward...
Good luck pals
On H4 and H1 with the help of fibonacci extention is was supposed to move towards the down side to hit the 1.618 fib level. Entry is given. Good luck! All analysis are based on predictions, we wait for price to move in our direction and then react.
