GBPUSD 4h analysis
Ever since the previous major high was taken out in late December last year #gbpusd has been in a downtrend. Consolidating heavily near the highs probably signalling a massive order accumulation so I’m expecting huge momentum moves to begin soon.
As of right now, price filled an inefficiency created by CPI last week and is looking like it’s ready for a continuation lower. We have multiple clean structure points to the left I’ll be expecting to be taken out and provide short term buy opportunities at each structure. However the overall bias is bearish so trading with the trend is always better.
As of right now, price filled an inefficiency created by CPI last week and is looking like it’s ready for a continuation lower. We have multiple clean structure points to the left I’ll be expecting to be taken out and provide short term buy opportunities at each structure. However the overall bias is bearish so trading with the trend is always better.
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