GBPUSD strong rally.. a correction? or a trend-reverse thingy?
GBPUSD price retraced to the 0.618 - 0.786 area 📈after a Monday rally, almost reaching my POI at around 1.37600. The Stoch enters the oversold area on 30m and 1h.
With a small re-accumulation 📊around 1.37000 the price broke that level and is currently heading higher. It can retrace back to around 1.36800 and head even higher to >>POI<< and 1.38000.
I'll be looking closer for a distribution signs between 1.37400 and 1.38000, looking for some nice setups to SELL ⬇️up there.
On the other side, if the price pushes down strongly below 1.36800, we can get action around 1.36600 later this week.
So, a correction, or a change of trend? I'll keep an eye on GBPUSD this week. 👀
With a small re-accumulation 📊around 1.37000 the price broke that level and is currently heading higher. It can retrace back to around 1.36800 and head even higher to >>POI<< and 1.38000.
I'll be looking closer for a distribution signs between 1.37400 and 1.38000, looking for some nice setups to SELL ⬇️up there.
On the other side, if the price pushes down strongly below 1.36800, we can get action around 1.36600 later this week.
So, a correction, or a change of trend? I'll keep an eye on GBPUSD this week. 👀