GBPUSD has been consolidating for over a month now in the daily time frame. And being a day trader i focus on the previous day high and low as they are the most important liquidity areas intraday as the big institutions will be sitting there. So the timeframe i use for intraday is 1 hour time frame, where i look for order block, fair value gap, and short term busyide and sellside liquidity and execute my trade in the 15 min - 1 min range accordingly. currently the swing high and the low of the 1 hour time frame GBPUSD has been marked with their respective ob in the discount and the premium. As of now the price is slightly bullish in this time frame and the price
is in the discount near the bullish ob, but as the daily time frame has been consolidating, i dont expect order blocks to be as powerful as they are. From my observation when price consolidates greater reactions can be seen from the old highs and lows which are the areas of liquidity and price might turn around from them and rally in the 1 hour time frame.
is in the discount near the bullish ob, but as the daily time frame has been consolidating, i dont expect order blocks to be as powerful as they are. From my observation when price consolidates greater reactions can be seen from the old highs and lows which are the areas of liquidity and price might turn around from them and rally in the 1 hour time frame.