Hello everyone. I want share my idea about GBPUSD.
On that pair we have pretty bullish trend, end of the week price movement end with good HL, but here we need to be carefully, we need to pay attention to the price movement of the DXY, because on there we have some bullish movements.
On that chart Fibonacci 50% LVL and support is same LVL,
if we follow trend for open long position we are close to open, because until 1.298 which is daily resistance we have only 4H resistance at 1.285 which I think will be weak for catch price movement.
Here is my 3 scene with price movement.
Scene 1 - Pull back from support and test weekly resistance.
Scene 2 - Brake support come down and then test trendline and from trendline make pull back to up.
Scene 3 - Brake support and trendline and start trend down.
I will pay attention to DXY index for identify movement on that pair then I will make decision. for more I will link in this post my idea about DXY.
On that pair we have pretty bullish trend, end of the week price movement end with good HL, but here we need to be carefully, we need to pay attention to the price movement of the DXY, because on there we have some bullish movements.
On that chart Fibonacci 50% LVL and support is same LVL,
if we follow trend for open long position we are close to open, because until 1.298 which is daily resistance we have only 4H resistance at 1.285 which I think will be weak for catch price movement.
Here is my 3 scene with price movement.
Scene 1 - Pull back from support and test weekly resistance.
Scene 2 - Brake support come down and then test trendline and from trendline make pull back to up.
Scene 3 - Brake support and trendline and start trend down.
I will pay attention to DXY index for identify movement on that pair then I will make decision. for more I will link in this post my idea about DXY.
