GBPUSD 30min Analysis February 1st, 2021
Price has rejected off our structure zone of 1.3740 once again but is finding support at our 30min 200MA.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our zone of 1.3740. We will then wait for a retrace and for price to find support at or above 1.3740. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to se price break below our 200MA. We will then wait for a retest for price to find resistance at our around 1.3700. Enter on strong bearish setups, first targeting our support zone of 1.3670
Trade Scenario 1: Bullish - For us to go long we need to see price break above our zone of 1.3740. We will then wait for a retrace and for price to find support at or above 1.3740. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to se price break below our 200MA. We will then wait for a retest for price to find resistance at our around 1.3700. Enter on strong bearish setups, first targeting our support zone of 1.3670
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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.