GBPUSD (Update)_3rd Week of Feb 2022
There are probably 2 scenarios:
Long Setup
1. Dollar Index currently at structural level and we expecting the price to start make a retracement (short term bearish) which we will use that move to go Long on GBPUSD
2. Expecting GBPUSD to bounce from the structural level and reject the trendline
3. Looking for HH & HL structure on lower TF before considering a Long position
Short Setup
1. If the above doesn't apply then we wait for the price to clearly break the structural level and the swing low trendline
2. Best if the price retest at the broken level for better RR ratio
Long Setup
1. Dollar Index currently at structural level and we expecting the price to start make a retracement (short term bearish) which we will use that move to go Long on GBPUSD
2. Expecting GBPUSD to bounce from the structural level and reject the trendline
3. Looking for HH & HL structure on lower TF before considering a Long position
Short Setup
1. If the above doesn't apply then we wait for the price to clearly break the structural level and the swing low trendline
2. Best if the price retest at the broken level for better RR ratio
