GBP/USD pushing up to 1.34810
Similar to my EUR/USD analysis I'm expecting price to push up in order to continue in it's overall HTF downtrend. This is supported by clear strong bullish indication to the upside and continual BOS. Price has also further left a triple EQH / level of resistance as liquidity which I believe will be taken as liquidity before price deicides to make it's proper move from the weekly supply. I believe price will move one of two ways:
Scenario A:
Price takes the ASL grabbing liquidity and wicking into my 15min zone and continuing in it's bullish trend to the weekly supply. This zone is closest to the last swing low and below a level of liquidity therefore, making it an interesting and likely point price could react from whilst respecting price action.
Scenario B:
Although similar to scenario A my analysis for scenario B follows HTF as this was the last significant HTF zone before price began moving in a euphoric manner. It was also the low that led to the high breaking previous structure to the left. As we know HTF holds more precedence and as price has not broken structure further to the upside on the 4H time frame then it is possible that these LTF zones may be taken alongside the trendline liquidity before price decides to make it's move to the upside.
Although both scenarios are possible I will most likely be expecting scenario A to play out as it follows current market structure and I believe price will have a major reaction from this weekly supply that will take all of these points of liquidity.
Scenario A:
Price takes the ASL grabbing liquidity and wicking into my 15min zone and continuing in it's bullish trend to the weekly supply. This zone is closest to the last swing low and below a level of liquidity therefore, making it an interesting and likely point price could react from whilst respecting price action.
Scenario B:
Although similar to scenario A my analysis for scenario B follows HTF as this was the last significant HTF zone before price began moving in a euphoric manner. It was also the low that led to the high breaking previous structure to the left. As we know HTF holds more precedence and as price has not broken structure further to the upside on the 4H time frame then it is possible that these LTF zones may be taken alongside the trendline liquidity before price decides to make it's move to the upside.
Although both scenarios are possible I will most likely be expecting scenario A to play out as it follows current market structure and I believe price will have a major reaction from this weekly supply that will take all of these points of liquidity.
Feragatname
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