GBPUSD Trade Idea - Correct Again? More Long Opportunities?
In the recent analysis, i mentioned that i've shifted my Bias from Bearish to Bullish since May 2022 due to my Price Action reading. If you've missed out my previous analysis feel free to scroll back up.
Yesterday, I called another buying opportunity as price bounced off the EMAs cushion indicating short-term Bullish momentum. I believe our setup will likely to remain the same as long as the following criterias are met:
1. 18ema holding above 50ema (sequence MUST be intact - short-term to mid-term Bullish sentiment)
2. 1.2610 is the nearest resistance structure, we're waiting for a final push above the zone as confirmational bias
3. No sharp decline that'd signal sudden strong selling pressure
4. Once price breaks above 1.2610, the following resistance zone will be 300-400 pips away (1.29 - 1.3)
Be aware that GU is sort of in a back & forth condition, if price continues to chop around, simply lower your expectation.
Always perform your own analysis and only use this as an educational material. Trade safe and take care.
Do not forget to like if you enjoy the content, and share with someone who'd enjoy reading this.
Yesterday, I called another buying opportunity as price bounced off the EMAs cushion indicating short-term Bullish momentum. I believe our setup will likely to remain the same as long as the following criterias are met:
1. 18ema holding above 50ema (sequence MUST be intact - short-term to mid-term Bullish sentiment)
2. 1.2610 is the nearest resistance structure, we're waiting for a final push above the zone as confirmational bias
3. No sharp decline that'd signal sudden strong selling pressure
4. Once price breaks above 1.2610, the following resistance zone will be 300-400 pips away (1.29 - 1.3)
Be aware that GU is sort of in a back & forth condition, if price continues to chop around, simply lower your expectation.
Always perform your own analysis and only use this as an educational material. Trade safe and take care.
Do not forget to like if you enjoy the content, and share with someone who'd enjoy reading this.
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