Here's my take on GBPUSD, as a swing trader. The GBPUSD market is ambivalent. On the daily time frame, price action is in a falling wedge (blue). Presently, it is making a bullish retest of the wedge resistance trendline and about 30 pips below the 1.38850/1.39460 supply area (magenta). We may see further bullish move to retest the 1.38850/1.39460 supply area (magenta). However, it will take a significant bullish breach of the area before we can have confidence in any bullish directional change. Meanwhile, bears are favoured to push for a southward turnaround after a bullish retracement to an area of value.
I may be wrong. Trade safe and prosper. So please trade based on your own trading rules and analysis.
KP
I may be wrong. Trade safe and prosper. So please trade based on your own trading rules and analysis.
KP
Do your homework, follow the footprints of smart money
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