Upcoming #GBPUSD outlook before FOMC Wednesday. Looking for the current level of support to keep price above and rise to 1.25000. If support happens to break, there will be sells down to 1.22500.
#TraderSphere
My current outlook on GBPUSD. Right now we are in a middle ground for this pair. The Daily and higher timeframes are bearish and we are approaching a resistance on these higher timeframes. On the H4 and lower, we are in an uptrend currently. For me to look for price to continue bullish, I would need to see price respect the key psyc level and H4 exhaustion zone...
This is the GU setup I am currently looking for around the 1.16000 psyc level where I would like to see support form on the H4 timeframe to continue the current H4 uptrend. The fib target is directly at the Daily timeframe support/resistance level so that is perfect area to key on.
GU approached the Covid Lows made for the first time since March 2020 so this...
AUDUSD is currently retracing, creating higher lows on the H4 and H1 timeframe. If we are looking at this as a weekly and daily timeframe setup, we have reached the level ( 0.69500 - 0.70000 ) where price could be shifting back to the downside. This zone is a key psychological level and if price can give us the H4 resistance I'm expecting with the Daily timeframe...
We are currently testing a former support level at 44k that is printing as a valid resistance at the moment. With resistance being respected and the break of M30 support, I'll be looking for short positions into 38k. COINBASE:BTCUSD
Higher timeframe analysis for the next bullish move on GBPUSD. Will further analyze when price reaches my 38.2% Fib point, but this is what I have in mind as of now.
