GBP/USD BUYS FROM A BETTER PRICE 1.38600-1.38750 OR THE 1.38300 Looking at GU we have come up to 1.42 region and have respected it quite well overall last week was bearish but the trend is still bullish on 4hr we can see no structure has been broken so I'm still looking for buys from these two areas we have to remember the overall trend is higher so looking for sells while we have been in a strong uptrend is us going against the trend and we could get stopped out at anytime
Looking on lower time frames we can see we are starting to make lower lows but I just think this could be a fake move for banks to buy at a cheaper price we can normally see a decent amount of movement from Tuesday to thursday and yesterday gu didn't move that much so I expect Thursday between London and New York session we could see a move down to cover the imbalances and then shoot up
BUY ZONE 1
ENTRY : 1.38750
STOP LOSS 1.38550 (20 PIPS)
TAKE PROFIT 1.40 (125 PIPS)
REASONS FOR BUYING AT THE PRICE
1. 88.6%
2. S2
3. Lower g1
4. no lower lows structure forming
BUY ZONE 2
ENTRY: 1.38300
STOP LOSS: 1.38180(12 pips)
TAKE PROFIT : 1.40 (170 pips)
REASONS FOR BUYING AT THE PRICE
1.Double bottom
2. 4hr structure
3. S3
4.4hr 200
If price breaks below 1.38300 do not enter wait for price action and enter
