GBPUSD is currently moving bullish, mainly driven by **USD weakness** rather than strong GBP strength.
This move is considered a **retracement**, not a full bearish structure change.
🔹 **Bias:**
➡️ Overall move is corrective
➡️ Bearish continuation only after retracement zones are reached
### 🎯 Key Retracement Zones
**First Retrace Target:**
📍 **1.37240**
**Deep Retrace Zone:**
📍 **1.35726**
### 🧠 Trade Idea Logic
* As long as price stays above retracement zones, market remains **bullish due to USD weakness**.
* Expecting price to **pull back (retrace)** into one of the zones.
* No bearish confirmation until these zones are tapped.
* Shorts only valid **after reaction or rejection** from retrace zones.
### ⚠️ Important Notes
* Current bullish price action = **corrective move only**
* Not a trend reversal unless structure breaks
* Wait for **price action confirmation** at retrace zones (engulfing / rejection / lower TF structure)
### 📌 Summary
✔️ Bullish move = USD weakness
✔️ Targets = 1.37240 and 1.35726
✔️ Looking for retracement, not crash
✔️ Shorts only after reaction at zones
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.
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.