GBPUSD 30min Analysis February 3rd, 2021
Price is still in a strong downtrend but we are close to our demand zone of 1.3610.
Trade Scenario 1: Bearish - For us to go short we need to wait for another clear LH. Our strongest zone will be a retrace back to 1.3660. We will then look for strong bearish setups off this zone to go short.
Trade Scenario 2: Bullish - For us to go long we need to see price find support around our demand zone of 1.3610. This will form a nice double bottom to enter on. We will wait for a bit of consolidation to form and enter on strong bullish setups.
Trade Scenario 1: Bearish - For us to go short we need to wait for another clear LH. Our strongest zone will be a retrace back to 1.3660. We will then look for strong bearish setups off this zone to go short.
Trade Scenario 2: Bullish - For us to go long we need to see price find support around our demand zone of 1.3610. This will form a nice double bottom to enter on. We will wait for a bit of consolidation to form and enter on strong bullish setups.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.