GBPUSD | Range | How To Work It
Looking for buys within this range at the moment. Things are looking like what we spoke about in this week's market prep.
Ideal scenario
We attack buy-side liquidity, then we see a minor sell-off from UK close to Asia Open.
Right now the activity within this range looks bullish because we have a void above price and the price has been clearing the sell-side orders.
This means the buy-side should be cleared next.
Price is like Pacman, all it wants to do is eat orders.
I'm actually still bearish overall on this pair at the moment, depending on how this progresses things could change, (targeting 1.3800)
I wouldn't be surprised if we retraced all the way up to those two red zones, then see a heavy dump off,
Keep in mind GBP has some red folders on Thursday morning. Might be safer to work within this until then, then let the news do its thing.
Ideal scenario
We attack buy-side liquidity, then we see a minor sell-off from UK close to Asia Open.
Right now the activity within this range looks bullish because we have a void above price and the price has been clearing the sell-side orders.
This means the buy-side should be cleared next.
Price is like Pacman, all it wants to do is eat orders.
I'm actually still bearish overall on this pair at the moment, depending on how this progresses things could change, (targeting 1.3800)
I wouldn't be surprised if we retraced all the way up to those two red zones, then see a heavy dump off,
Keep in mind GBP has some red folders on Thursday morning. Might be safer to work within this until then, then let the news do its thing.
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