As you can see in the 2H chart of GBPUSD, it opened with a huge gap, and started to move towards the Bearish Rejection Block, which it indeed got rejected, currently being traded at 1.3423, inside the March 2nd NWOG, being traded below its Consequent Encroachment at 1.3447.
I expect GBPUSD to drop to the 1.3410 level, which is the March 9th NWOG High, and below it there are 2 other NWOGs' Low at 1.34080 and 1.3394, and this makes this a very strong support zone and if this support is lost, it can drop further to 1.3346 and then 1.3340.
However, if GBPUSD manages to bounce back, it can go to retest the Bullish Rejection Block and then the April 13th NWOG high at 1.3460, and then go to sweep the liquidity above the 1.3484 level and then retest the March 2nd NWOG High at 1.3486.
Targets for GBPUSD: 1.3410, 1.3400, 1.3390, 1.3380.
Targets in case it bounces back up to the Bullish Rejection Block and the Liquidity pool above: 1.3430, 1.3440, 1.3450 and 1.3460.
I expect GBPUSD to drop to the 1.3410 level, which is the March 9th NWOG High, and below it there are 2 other NWOGs' Low at 1.34080 and 1.3394, and this makes this a very strong support zone and if this support is lost, it can drop further to 1.3346 and then 1.3340.
However, if GBPUSD manages to bounce back, it can go to retest the Bullish Rejection Block and then the April 13th NWOG high at 1.3460, and then go to sweep the liquidity above the 1.3484 level and then retest the March 2nd NWOG High at 1.3486.
Targets for GBPUSD: 1.3410, 1.3400, 1.3390, 1.3380.
Targets in case it bounces back up to the Bullish Rejection Block and the Liquidity pool above: 1.3430, 1.3440, 1.3450 and 1.3460.
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Free channel: t.me/AmirAliTrading_Official
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.