My idea for GBP/USD (GU) this week is slightly different from the others. Currently, GU is positioned between significant liquidity zones, with the most immediate valid POI being the 50-minute supply zone located above the Asian high. I expect the price to sweep that liquidity before reacting to the supply zone and targeting the trendline liquidity below.
After the liquidity sweep and a break of structure, a new supply zone is likely to form. However, at this stage, price action is less clear compared to how EUR/USD (EU) is moving. Therefore, I’ll exercise extra caution in my confluences and avoid overly ambitious take-profit targets.
Confluences for GU Sells:
Significant liquidity below in the form of a trendline that needs to be taken.
A clean 50-minute supply zone sitting above a pool of liquidity.
GU remains bearish overall on higher time frames.
The POI is at an extreme point within the current structure.
DXY remains bullish, supporting this bearish outlook for GU.
Note: If the price breaks the supply zone and then forms a break of structure to the upside, I’ll shift my focus to buy opportunities, similar to my plan for EU.
Have a great trading week, everyone!
After the liquidity sweep and a break of structure, a new supply zone is likely to form. However, at this stage, price action is less clear compared to how EUR/USD (EU) is moving. Therefore, I’ll exercise extra caution in my confluences and avoid overly ambitious take-profit targets.
Confluences for GU Sells:
Significant liquidity below in the form of a trendline that needs to be taken.
A clean 50-minute supply zone sitting above a pool of liquidity.
GU remains bearish overall on higher time frames.
The POI is at an extreme point within the current structure.
DXY remains bullish, supporting this bearish outlook for GU.
Note: If the price breaks the supply zone and then forms a break of structure to the upside, I’ll shift my focus to buy opportunities, similar to my plan for EU.
Have a great trading week, everyone!
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.