GBPUSD: Reversal structure for a LONG TRADE SETUP

Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the GBPUSD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.

Higher timeframe:

Lower timeframe:

GBPUSD and most USD pairs are still moving quite bearish, but the scenario could definitely reverse during the week or the upcoming few weeks.
Specifically, GBPUSD reached in HTF an important swing low, double topping on it and forming a strong reversal impulse, buyers stepped in the market and started pushing the price up.
However, in LTF although an interesting structure, probably a continuation of the impulsive phase, we don’t really see enough confluences to enter the market yet.

When, where and why would we step into the market?
If the price will break the structure to the upside, giving us enough room to enter long in terms of RR, we definitely can step into a buy position, obviously if the market will create our conditions.
The overall higher tf bias and lower tf bias are starting to be in line, so keeping an eye on this market is a must!


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Cybernetics Trading Lab

DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.