Hello traders,
GBP/USD again did a good job on Asia ses. and we tested almost pivot S2 at 1.3073. Anyway, the morning traders started to buy GBP/USD on London open but using that pivot analysis together with market profile and candle formations I found that this buying is from weak traders. The today's value is still lower relative to yesterday and there are huge anomalies on this upward movement, which means there are weak buyers. Stochastic also showed hidden bearish divergence. Price managed to go to test pivot but in my opinion, this is maximum from buyers today. You can try sell position near pivot with targets at 1.3115 (S1) and 1.3075 (S2).
GBP/USD again did a good job on Asia ses. and we tested almost pivot S2 at 1.3073. Anyway, the morning traders started to buy GBP/USD on London open but using that pivot analysis together with market profile and candle formations I found that this buying is from weak traders. The today's value is still lower relative to yesterday and there are huge anomalies on this upward movement, which means there are weak buyers. Stochastic also showed hidden bearish divergence. Price managed to go to test pivot but in my opinion, this is maximum from buyers today. You can try sell position near pivot with targets at 1.3115 (S1) and 1.3075 (S2).
"Buy on fear, sell on greed !!!