GBPUSD 30min Analysis January 8th, 2021
Price is still consolidating between our two structure zones. Currently price is at the 30min 200MA which price has recently respected as resistance.
Trade Scenario 1: Bearish - For us to go short we want to see strong bearish rejection off the 200MA pushing price below 1.3580. We can aggressively enter shorts on bearish engulfing off the 200MA or we can wait for a break and retest of 1.3580 and enter off bearish setups.
Trade Scenario 2: Bullish - For us to go long we need to see price push above our structure zone of 1.3620. We will then wait for a retrace and a clear HL to form above 1.3620
Trade Scenario 1: Bearish - For us to go short we want to see strong bearish rejection off the 200MA pushing price below 1.3580. We can aggressively enter shorts on bearish engulfing off the 200MA or we can wait for a break and retest of 1.3580 and enter off bearish setups.
Trade Scenario 2: Bullish - For us to go long we need to see price push above our structure zone of 1.3620. We will then wait for a retrace and a clear HL to form above 1.3620
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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.