GBP/USD 4H Update - As you can see price has reacted very well to the Supply zone I highlighted as an area to sell from, some of you may have enter based on the penetration and rejection to the downside and some may have waited for the BOS to the downside, this all depends on your approach and how aggressive you are.
If you did enter based on the penetration and rejection you should have a very well running trade and we can expect a continuation in this bearishness moving forward. To those of you who have waited for price to break structure to the downside and wanted further confirmation before entering, we have now been delivered with that.
From here we want to see price pullback and trade us back up and into another Supply zone, this time one that has been left from the impulse that broke the structure to the downside. Once price trades us into that we can then look to get involved in this market with a refined entry.
If you did enter based on the penetration and rejection you should have a very well running trade and we can expect a continuation in this bearishness moving forward. To those of you who have waited for price to break structure to the downside and wanted further confirmation before entering, we have now been delivered with that.
From here we want to see price pullback and trade us back up and into another Supply zone, this time one that has been left from the impulse that broke the structure to the downside. Once price trades us into that we can then look to get involved in this market with a refined entry.
