GBPUSD big short - WHY? - Supply Demand, Fib Level
On GBPUSD I see a nice short possibility. The price is currently at the daily Supply Zone. This area is also a strong level of monthly Resistance. Definitely an area for the market to give us a bigger retracement.
As we all know the GBPUSD is super bullish. It started a nice Impulsive / Correction pattern from the monthly Support. Right now the market is creating the next continuation movements - the next impulsive. The thing is that we are at that monthly Resistance + daily + weekly Supply Zone. From here we can definitely expect a Retracement. I see it going to to the 0.5 Fib Level because we got good structure there.
Another potential returning point is the h4 Demand Zone.
After this overall bearish movements I expect the continuation to the upside. Target 1.4000
What do you think ?
As we all know the GBPUSD is super bullish. It started a nice Impulsive / Correction pattern from the monthly Support. Right now the market is creating the next continuation movements - the next impulsive. The thing is that we are at that monthly Resistance + daily + weekly Supply Zone. From here we can definitely expect a Retracement. I see it going to to the 0.5 Fib Level because we got good structure there.
Another potential returning point is the h4 Demand Zone.
After this overall bearish movements I expect the continuation to the upside. Target 1.4000
What do you think ?
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