GBPUSD Upcoming Week Price Action
Long likely from week open, retracing between 50% & 78.6%, but closer to 62% IMO, to fill the current hourly range.
From there we will likely see a strong bearish move, filling the bullish range created after the "flash crash."
Exactly where that dip will stop Im not precisely sure, so use appropriate risk management when approaching a long after the drop into discount.
I would go long at week open and then have shorts ready in the premium zone, GBP news coincides with these moves.
AUDUSD is very similar, their Red Folder News event is on Weds night, and will likely be a catalyst, as usual.
Good Luck.
From there we will likely see a strong bearish move, filling the bullish range created after the "flash crash."
Exactly where that dip will stop Im not precisely sure, so use appropriate risk management when approaching a long after the drop into discount.
I would go long at week open and then have shorts ready in the premium zone, GBP news coincides with these moves.
AUDUSD is very similar, their Red Folder News event is on Weds night, and will likely be a catalyst, as usual.
Good Luck.
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